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A worker assembles the transmission mechanism of a forklift at a manufacturing plant in Qingzhou, China.
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The Australian market opened lower on the last trading day of the year, while investors in Asia awaited manufacturing data from China.
Australia S&P/ASX 200 traded 0.56% lower in the shortened trading day.
Stock markets in Japan and South Korea are closed on New Year’s Eve. South Korea’s consumer inflation accelerated in December, increasing by 1.9% year-on-year. CPI in November was 1.5%. In monthly terms, prices rose by 0.4%.
Traders will be watching China’s manufacturing PMI for December. Analysts polled by Reuters had forecast a PMI reading of 50.3, the same as in November. A reading above 50 indicates expanding activity, while a reading below this level indicates contraction.
Hong Kong’s stock markets will have a shortened trading day.
US stocks fell overnight in one of the last trading sessions of 2024 as an important year for investors appears to be ending on a sad note.
Trading was choppy throughout the day, with the Dow down more than 700 points at session lows. There was no obvious news catalyst for Monday’s decline, and trading was expected to be light given the shortened week
The Dow Jones industrial index lost 418.48 points, or 0.97%, to close at 42,573.73. The S&P 500 decreased by 1.07% to 5906.94, and Nasdaq Composite down 1.19% to 19,486.78.
— CNBC’s Jesse Pound and Samantha Subin contributed to this report.
