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Shanghai shares surge to five-year high | Shanghai shares surge to five-year high |
(about 2 hours later) | |
Mainland Chinese shares surged on Monday to their highest in five years, leading Asian markets as they reopened for the first full week in 2015. | Mainland Chinese shares surged on Monday to their highest in five years, leading Asian markets as they reopened for the first full week in 2015. |
The Shanghai Composite jumped 3.6% to 3,350.52, after gaining 50% in 2014. | |
Investors are hoping for monetary policy easing in China after a private survey last week showed manufacturing activity shrank for the first time in seven months. | Investors are hoping for monetary policy easing in China after a private survey last week showed manufacturing activity shrank for the first time in seven months. |
In Hong Kong, the benchmark Hang Seng index fell 0.57% to 23,721.32. | |
Shares of Macau casino operator Melco Crown fell 3.5% after it announced a plan on Friday to withdraw its listing from Hong Kong for "cost savings" reasons. | Shares of Macau casino operator Melco Crown fell 3.5% after it announced a plan on Friday to withdraw its listing from Hong Kong for "cost savings" reasons. |
The news came after the world's biggest gaming hub, Macau, recorded its first annual decline in gambling revenue since casinos were liberalised there in 2001. | The news came after the world's biggest gaming hub, Macau, recorded its first annual decline in gambling revenue since casinos were liberalised there in 2001. |
Factories recover | Factories recover |
In Japan, the benchmark Nikkei 225 closed down 0.2% at 17,408.71 despite ending 2014 up 8%. | In Japan, the benchmark Nikkei 225 closed down 0.2% at 17,408.71 despite ending 2014 up 8%. |
Investors shrugged off data that showed Japan's manufacturing activity grew in December. | Investors shrugged off data that showed Japan's manufacturing activity grew in December. |
The Markit/JMMA purchasing managers index (PMI) was at 52, unchanged from November's reading. A score above 50 indicates growth. | The Markit/JMMA purchasing managers index (PMI) was at 52, unchanged from November's reading. A score above 50 indicates growth. |
The dollar, meanwhile, was steady at 120.54 yen, from 120.49 the previous day. | The dollar, meanwhile, was steady at 120.54 yen, from 120.49 the previous day. |
Euro woes | Euro woes |
However, the euro fell to its lowest since 2006, buying just $1.18605, having fallen below an important support level of $1.20. | However, the euro fell to its lowest since 2006, buying just $1.18605, having fallen below an important support level of $1.20. |
A combination of a strong US dollar, the possibility of further easing from the European Central Bank and of Greece exiting the eurozone exaggerated the fall on a day when trading was light. | A combination of a strong US dollar, the possibility of further easing from the European Central Bank and of Greece exiting the eurozone exaggerated the fall on a day when trading was light. |
The common currency last traded at $1.1926. | The common currency last traded at $1.1926. |
Australian shares closed higher despite a survey showing weakness in the country's manufacturing sector last month. | Australian shares closed higher despite a survey showing weakness in the country's manufacturing sector last month. |
The Australian Industry Group's PMI fell to 46.9, below the 50 level that indicates growth. | The Australian Industry Group's PMI fell to 46.9, below the 50 level that indicates growth. |
Firms reported a sharp drop in new orders in December. | Firms reported a sharp drop in new orders in December. |
The benchmark S&P/ASX 200 was up 0.3% to 5450.3. | The benchmark S&P/ASX 200 was up 0.3% to 5450.3. |
In South Korea, the Kospi was lower 0.6% to 1,915.75 after closing up 0.6% on Friday. | In South Korea, the Kospi was lower 0.6% to 1,915.75 after closing up 0.6% on Friday. |