A heavy visitors jam with many automobiles on the highway in Chaoyang district in Beijing, China.
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Asia-Pacific markets had been set to kick-start a data-heavy week principally larger, with buyers awaiting financial readings from a number of international locations, together with Japan, South Korea and China.
Over the weekend, China launched its official buying managers’ index studying for November. Manufacturing PMI got here in at 50.3 — its highest degree since April — beating the 50.2 anticipated by economists polled by Reuters. Manufacturing PMI got here in at 50.1 in October.
China’s non-manufacturing PMI slipped to 50.0 from 50.2 within the earlier month, whereas composite PMI held regular at 50.8.
A studying larger than 50 reveals enlargement in exercise, whereas beneath that reveals contraction.
On Monday, manufacturing PMI readings from S&P International can be launched for economies all through Asia, together with the Caixin PMI survey for China.
Australia will announce retail gross sales for the fourth quarter, whereas Indonesia will disclose its inflation numbers for November later within the day.
Futures for Hong Kong’s Hold Seng index stood at 19,642, pointing to a stronger open in comparison with the HSI’s shut of 19,423.61.
Australia’s S&P/ASX 200 began the day up 0.26%.
Japan’s benchmark Nikkei 225 was set to slide, with the futures contract in Chicago at 38,205 and its counterpart in Osaka at 38,190 in opposition to the index’s final shut of 38,208.03.
On Friday within the U.S., the Dow Jones Industrial Common and S&P 500 rose to new heights and recorded their greatest months of 2024 amid a shortened buying and selling day.
The S&P 500 added 0.56%, whereas the Nasdaq Composite jumped 0.83%. The Dow climbed 188.59 factors, or 0.42%. Each the Dow and S&P 500 notched new intraday and shutting highs.
Among the upward momentum got here from chip shares, which popped after Bloomberg reported that the Biden administration was contemplating extra limitations to the sale of semiconductor tools to China that weren’t as robust as beforehand anticipated. Lam Analysis rallied greater than 3%, whereas Nvidia jumped greater than 2%.
— CNBC’s Alex Harring contributed to this report.
