Asia report: Markets mixed on short, low-volume New Year's Eve

Investors in Japan, mainland China and South Korea were busy celebrating New Year’s Eve, with markets in those countries closed for the day.

Japan’s currency gained on its American counterpart, however, with the yen strengthening 0.37% against the dollar to last trade at JPY 109.86.

In Hong Kong, the Hang Seng Index managed gains of 1.34% to close at 25,845.70 in a truncated New Year’s Eve session.

But celebrations for the day’s gains were soured by the index’s annual record, with the benchmark declining 13.6% for the year as a whole.

Even though its markets were closed, Beijing still issued fresh economic data on Monday, with the manufacturing purchasing managers’ index coming in at 49.4 in December, showing a larger contraction in manufacturing activity than was anticipated.

Economists polled by Reuters had expected a reading of 49.9, with anything less than 50 indicating a shrinking of the sector.

The country’s official non-manufacturing PMI was 53.8, which was more than the 53.4 reported in November.

Oil prices were higher, with Brent crude last up 2.17% at $54.39 per barrel, and West Texas Intermediate added 1.93% to $46.22.

Australia’s benchmark S&P/ASX 200 was 0.14% lower at the close, finishing at 5,646.40.

Looking across the year, the Sydney index was down 6.9% compared to its final session of 2017.

That index also enjoyed a shortened session on the eve of 2019.

Materials shares were in the green in the sunburnt country, however, with that subindex rising 0.4%.

Of the major miners, BHP was up 0.82%, Fortescue Metals added 1.21%, and Rio Tinto was 0.5% higher.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 finished on a higher note than much of the rest of the world, managing a 0.3% rise on Monday to 8,811.27.

Perhaps more impressively, the Wellington benchmark recorded an annual gain in a year of global losses, rising 4.6% over its 2017 close.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.27% at AUD 1.4168, and the Kiwi advancing 0.09% to NZD 1.49.