Friday, January 2, 2015

Australia Stocks Start Year Higher With Low Liquidity

Asian shares started the new year higher in thin trading, with many of the region’s markets closed ahead of the first full week of trading in 2015.

But weak factory activity in China capped gains, as many countries are dependent on the Asian giant’s growth.

China’s official Purchasing Managers’ Index (PMI) slipped to 50.1 in December, the lowest level of 2014, from 50.3 in November.

Hong Kong’s benchmark Hang Seng index closed 1.1% higher at 23,857.82.

Bucking the trend were shares of casinos, after data showed that gambling revenue in Macau fell for the first time on an annual basis since its casinos were liberalised in 2001.

Wynn Macau, Melco Crown and Galaxy Entertainment shares were all down more than 2.6%.

via BBC

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