Asia-Pacific markets were mixed on the penultimate trading day of this year, after Wall Street declined on Friday.
In Japan, the Nikkei 225 index plummeted 386.62 points, or 1%, to 39,894.54.
Japan’s factory activity contracted at a slower rate in December. The au Jibun Bank Japan Manufacturing Purchasing Managers’ Index climbed to 49.6 in December, coming in slightly above November’s reading of 49.0 and marking the softest contraction in three months. However, the figure remained below the 50 threshold that separates expansion from contraction.
In Hong Kong, the Hang Seng dropped 49.04 points, or 0.2%, to 20,041.42.
Korean stocks lost ground as the country grapples with political turmoil and downbeat industrial data, among other things.
The country witnessed its deadliest airline crash on Sunday that claimed 179 lives when a Jeju Air plane crashed into a wall at the Muan International Airport.
South Korea’s acting President Choi Sang-mok has ordered an urgent safety inspection of the nation’s airline operation system.
Shares of Jeju Air hit an all-time low Monday, according to FactSet data, closed 8.65% lower. Other Korean airlines’ stocks were volatile. Korean Air fell 3%, budget airlines T’way Air and Jin Air fell 3.23% and 2.83%, respectively. Air Busan climbed over 3.14%.
South Korea’s industrial output contracted 0.7% on a monthly basis in November, greater than the 0.4% decline expected by Reuters. On an annual basis, industrial output rose 0.1%, smaller than Reuters’ expectations of a 0.4% climb. This compares to October’s reading of a 6.3% increase.
The country’s parliament on Dec. 27 voted to impeach acting President Han Duck-soo, not long after Yoon got impeached as a result of his brief martial law decree, which plunged the country into political turmoil. The country’s investigation agency on Monday reportedly sought an arrest warrant for Yoon.
In other markets
In Shanghai, the CSI 300 gained 18.02 points, or 0.5%, to 3,999.05.
In Taiwan, the Taiex docked 85.48 points, or 0.4%, to 23,190.20
In Korea, the Kospi index slipped 5.28 points, or 0.2%, to 2,399.49
In Singapore, the Straits Times Index added 24.1 points, or 0.6%, at 3,795.73
In New Zealand, the NZX 50 gained 64.91 points, or 0.5%, to 13,270.01.
In Australia, the ASX 200 parted with 26.79 points, or 0.3%, to 8,235.01.
