Asian Markets Started the Week on a Mixed Note on December 4
10:00 AM EST – US Factory Orders (October)
7:01 PM EST – U.K. BRC Retail Sales Monitor (November)
8:45 PM EST – China’s Caixin Services PMI (purchasing managers’ index) (November)
Interested in HSI-INDEX? Don't miss the next report.
Receive e-mail alerts for new research on HSI-INDEX
After falling for three consecutive trading weeks, China’s Shanghai Composite Index started this week on a weaker note. The Shanghai Composite Index opened the day lower on Monday and closed at the lowest daily close in more than three months.
The Shanghai Composite Index lost strength last week amid the release of weaker-than-expected manufacturing data. November’s China Caixin manufacturing PMI fell to a five-month low of 50.8 and dented the market sentiment. On Monday, the market sentiment is mixed amid weak manufacturing sector sentiment and a rally in consumer sectors. The consumer staples sector rose 2.9% on Monday amid a rebound in blue chips and limited the market loss.
On December 4, the Shanghai Composite Index fell 0.24% and closed the day at 3,309.62. The SPDR S&P China (GXC) fell 0.98% on December 1.
After pulling back from elevated levels last week, Hong Kong’s Hang Seng Index started this week lower. However, the Hang Seng Index regained strength as the day progressed on Monday amid a rally in China’s blue-chip stocks and closed the day higher.
The Hang Seng Index rose 0.4% and closed the day at 29,190.00. The iShares MSCI Hong Kong (EWH) fell 0.35% on December 1.
After rising for two consecutive trading weeks, Japan’s Nikkei Index started this week on a weaker note by pulling back on Monday. Weakness in large-cap stocks along with profit-booking weighed on Japan’s Nikkei Index today. On the other hand, strength in retail stocks limited the market’s fall. On December 4, the Nikkei Index fell 0.49% and closed the day at 22,707.16. The iShares MSCI Japan (EWJ) fell 0.45% on December 1.
In the next part, we’ll discuss how European markets performed in the early hours on December 4.