Asian markets ended 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.
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 ended weak after shares surged to a near six-year high Thursday.
Index heavyweight Sony advanced 1.7% while Canon and Olympus fell 1.2% each, respectively.
Sony’s PlayStation 4 game console went on sale in the U.K. on Friday.
Sharp Corp. gained 4.2%.
Angang Steel strengthened 4.7% in Hong Kong following the manufacturing data. In banks, index heavyweight ICBC was up 0.7%
Sun Pharma was the top gainer on the Sensex, up 4.1%, followed Jindal Steel, up 4%, and Wipro and L&T, up 2.2% each, respectively.
Diversified miner and index leader BHP Billiton sank 1.3% in Sydney and rival Rio Tinto also edged 0.3% lower.