BANGKOK (AP) – Asian stocks started the week mixed, with Tokyo stock indexes falling nearly 2% on Monday after the release of data showing weak factory activity and U.S. futures also falling.
Oil prices soared by more than $1 per barrel.
In Japan, the Nikkei Stock Average fell 1.9% to 49,285.66 after the government released weaker-than-expected business investment data.
Regional reports on manufacturing activity are being closely watched for signs of how U.S. President Donald Trump’s tariff hikes are affecting the Asian economy.
A survey of Japanese factory managers showed that production activity slowed in November. Last month’s S&P Global Japan Manufacturing Purchasing Managers Index (PMI) was 48.7, a slight improvement from October’s 48.2, but still in contraction territory on a scale of 0 to 100, where 50 is an indicator of expansion. This was the fifth consecutive month of contraction.
“The latest PMI data shows Japan’s manufacturing sector continues to struggle with weak demand conditions in November, with companies signaling a further significant decline in overall new business,” Annabel Fides, associate director of economics at S&P Global Market Intelligence, said in a note.
chinese factory activities The official survey released on Sunday showed that the economy was negative for the eighth consecutive month in November, underscoring the challenges facing the country’s economy despite the extension of the US-China trade ceasefire.
However, Hong Kong’s Hang Seng rose 0.8% to 26,068.05.
Shares in online food delivery giant Meituan fell 1.5% after the company said it posted a net loss last quarter as fierce competition in the delivery industry pushed prices down, despite increased sales.
The Shanghai Composite Index rose 0.4% to 3,904.90.
In the Seoul market, the Kospi was almost unchanged at 3,926.20. Australia’s S&P/ASX 200 fell 0.3% to 8,583.30.
Taiwan’s Tyex fell 0.5% and India’s Sensex rose 0.3%.
Sivan Tandon, Asia economist at Capital Economics, said in a comment that while pan-Asia PMI data reflects weakness in factory activity in November, exports from the region have rebounded in recent months.
Black Friday consumer spending cyber monday Even though retail profits were expected to be better than expected. Uncertainty about prospects For the US economy.
Early Monday morning, the S&P 500 futures index was down nearly 0.7%, and the Dow Jones Industrial Average was down 0.4%.
Trading in the Dow Jones Industrial Average, S&P 500 and Nasdaq was halted for several hours Friday due to technical issues at the Chicago Mercantile Exchange. CME said the issue is related to an outage at the CyrusOne data center.
In Friday’s short post-Thanksgiving session, the S&P 500 rose 0.5% and the Dow rose 0.6%. The Nasdaq rose 0.7%.
After slumping in mid-November as investors worried about the sustainability of the enthusiasm surrounding artificial intelligence, stocks rose last week on hopes of further Federal Reserve interest rate cuts.
Nvidia fell 1.8% on Friday, ending the month with double-digit losses. Oracle fell 23% in November, and Palantir Technologies fell 16%.
Some tech stocks posted monthly gains, most notably Alphabet, which rose nearly 14% on excitement over recently released new products. Gemini AI model.
The central bank is It has already cut interest rates twice this year. The company, hoping to shore up a sluggish job market, is facing increasingly difficult decisions on interest rates as inflation rises and the job market slows. With employment deteriorating, further rate cuts could help the economy, but could also accelerate inflation.
The minutes of the Fed’s most recent meeting, held in October, show: Likely to become a strong sector Policymakers are divided on the Fed’s next steps.
Investors were also keeping an eye on retail stocks to see if shoppers would rush to take advantage of the product. Annual Black Friday Sale Event. Macy’s fell 0.3% and Kohl’s rose 1.4%. Dick’s Sporting Goods fell 0.5%. Among specialty retailers, Abercrombie & Fitch rose 2.9% and American Eagle Outfitters rose 0.7%.
In other trading early Monday, benchmark U.S. crude oil rose $1.05 per barrel. Brent crude oil, the international standard, also added $1.05 per barrel.
The dollar fell from 156.14 yen to 155.57 yen. The euro rose to $1.1602 from $1.1596.
Bitcoin fell 5.3% to $86,225.
