Industrial production growth brought China stock up

An index of industrial production flourished, bringing Chinese stocks up

Both major indices of mainland China stock market gained strongly in the morning session of December 31, while Hong Kong market inched slightly.

China’s Shanghai Composite Index rose 1.19% in the morning session of December 31st. Photo: AFP

Mainland China stock market rebounded this morning after information on industrial production activities in December reached growth. The Shanghai Composite Index gained 1.19% while the Shenzhen Component was higher at 1,417%. On the Hong Kong market, the Hang Seng index edged up 0.41%.

This morning, the National Bureau of Statistics of China announced that the manufacturing activities of the factory sector in China recorded growth in December, with the official Purchasing Managers’ Index (PMI) reaching 51.9 points. Although PMI in December, although it slipped slightly from 52.1 of the previous month, this index reached over 50 points, which is the basis for confirming that the surveyed industry / sector has achieved growth.

Other major indexes of Asia-Pacific stocks were mixed in this morning session. Major markets such as Australia, Singapore and Hong Kong today will close early today to welcome the new year 2021. Japanese and Korean markets are closed for a holiday today.

In Australia, the S & P / ASX 200 index fell 0.64%, while Singapore’s Straits Times index slipped 0.4%. Overall, the MSCI Asia-Pacific (excluding Japan) still edged up 0.27%.

On the anti-Covid-19 front, the vaccine jointly developed by the University of Oxford and AstraZeneca has just been approved for emergency circulation in the UK. In related developments, the British government on December 30 plans to take measures against the Covid-19 epidemic on millions of people in the UK because the new Covid-19 strain is spreading throughout the UK.

US stocks last night recorded that all three major indices increased simultaneously. The Dow Jones industrial average was 73.89 points and closed at 30,409.56 points, while the S&P 500 index edged up 0.1% to 3,732.04 points. The Nasdaq Composite technology-oriented index rose 0.2% to 12,870 points.

The money market this morning recorded a depreciation of the greenback. The US dollar index against other major currencies fell to 89,527, from above 90. The Japanese Yen strengthened and converted 103.08 JPY to “eat” USD, from 103.8 JPY / USD set. the beginning of the week. Australian dollar appreciated and traded 1 AUD / 0.7707 USD, compared with 1 AUD / 0.76 USD earlier this week.

Oil prices on the Asian market fell this morning. Futures Brent oil slid 0.25% to $ 51.50 / barrel, while crude oil futures lost 0.23% to $ 48.29 / barrel.