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    Home - World News - China PMI, Caixin PMI, Australia retail sales
    World News

    China PMI, Caixin PMI, Australia retail sales

    By Parker Jospeh2 Mins Read
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    China PMI, Caixin PMI, Australia retail sales

    A customer is paying attention to the Chinese stock market at a stock exchange in Hangzhou, China, on January 22, 2024. (Photo by Costfoto/NurPhoto via Getty Images)

    Nurphoto | Nurphoto | Getty Images

    Asia-Pacific markets traded slightly higher on Monday as the region kick-started a data-heavy week, with investors focused on economic readings from several countries, including Japan, South Korea and China.

    Over the weekend, China released its official purchasing managers’ index reading for November. Manufacturing PMI came in at 50.3 — its highest level since April — beating the 50.2 expected by economists polled by Reuters. Manufacturing PMI came in at 50.1 in October.

    China’s non-manufacturing PMI slipped to 50.0 from 50.2 in the previous month, while composite PMI held steady at 50.8.

    A reading higher than 50 shows expansion in activity, while below that shows contraction.

    On Monday, manufacturing PMI readings from S&P Global will be released for economies throughout Asia, including the Caixin PMI survey for China.

    Australia’s retail sales rose 3.4% in October, its fastest year-on-year rise since May 2023.

    Indonesia will disclose its inflation numbers for November later in the day.

    South Korea’s Kospi was trading close to the flatline, and the small-cap Kosdaq advanced 0.13%. Over the weekend, South Korea’s preliminary trade data revealed exports grew at their slowest pace since September 2023.

    Exports grew 1.4% year-on-year in November, missing expectations of a 2.8% growth from economists polled by Reuters and a sharp decline from the 4.6% rise in October.

    However, Japan’s benchmark Nikkei 225 was marginally up, while the broad-based Topix was 0.68% higher.

    Hong Kong’s Hang Seng index gained 0.21%, while mainland China’s CSI 300 was up 0.26%. The Hang Seng Mainland Properties Index advanced 0.5% after growth in China’s new home prices accelerated in November.

    Australia’s S&P/ASX 200 started the day up 0.16%.

    On Friday in the U.S., the Dow Jones Industrial Average and S&P 500 rose to new heights and recorded their best months of 2024 amid a shortened trading day.

    The S&P 500 added 0.56%, while the Nasdaq Composite jumped 0.83%. The Dow climbed 188.59 points, or 0.42%. Both the Dow and S&P 500 notched new intraday and closing highs.

    Some of the upward momentum came from chip stocks, which popped after Bloomberg reported that the Biden administration was considering additional barriers to the sale of semiconductor equipment to China that weren’t as strong as previously expected. Lam Research rallied more than 3%, while Nvidia jumped more than 2%. 

    — CNBC’s Alex Harring contributed to this report.

    China PMI, Caixin PMI, Australia retail sales

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    Joseph Parker is a journalist based in United States. He as well the US breaking US news team reports on political news and cultural developments including extremism, disinformation, tech and Federal news.

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    Sally Rooney says she can ‘no longer safely enter UK without facing arrest’

    Sally Rooney says she can ‘no longer safely enter UK without facing arrest’

    Gaza could be ‘real estate bonanza’, Israeli minister Bezalel Smotrich says

    Gaza could be ‘real estate bonanza’, Israeli minister Bezalel Smotrich says

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