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Market Update

Asian Markets Start Week Mixed

Asian markets traded mixed Monday as some shares first rose but slipped back into the red, disregarding better-than-expected manufacturing data in China in HSBC’s November survey.

The Nikkei slipped 0.2%. The Shanghai Composite fell 0.9% while the Hang Seng rose 0.5%. The Sensex was up 0.6% and the All Ordinaries gave up 0.8%.

HSBC’s November survey showed China’s manufacturing sector at 50.8 remained almost unchanged from the previous month’s reading of 50.9. The report indicated that production "was largely driven by domestic demand."

Chinese stocks rose after the data but reversed those gains later as the markets were weighed by an imminent end to a moratorium on initial public offerings. Over the weekend, the Chinese Regulatory Commission published new guidelines for its IPO market.

Stocks on the Move

Stocks in Tokyo slightly in the red after shares surged to a near six-year high Thursday.

Index heavyweight Sony advanced almost 2% while Canon and Olympus fell 1.3% and 1.2% each, respectively.

Sony’s PlayStation 4 game console went on sale in the U.K. on Friday.

Sharp Corp. gained 3.6%.

Angang Steel strengthened 4.5% in Hong Kong. Heavyweight ICBC was also up almost a percent.

ICICI was the top gainer on the Sensex, up 2.8%, followed by Sun Pharma, up 2.7%, and Jindal Steel, up 2.3%.

Diversified miner and index leader BHP Billiton sank 1.3% in Sydney and rival Rio Tinto also edged 0.3% lower.