Most Asian stocks rose on Tuesday, the first trading day of 2018, as a survey of Chinese manufacturing beat forecasts and North Korean leader Kim Jong Un said he is open to talks with South Korea, and may consider sending a delegation to next month's Winter Olympics in PyeongChang.
China's Shanghai Composite index climbed 41 points or 1.24 percent to 3,348.33 after the China Caixin manufacturing PMI showed a reading of 51.5 in December, beating expectations and also touching a four-month high.
Separately, official data showed Sunday that China's manufacturing activity edged down slightly in December, but largely maintained momentum. Hong Kong's Hang Seng index was up nearly 2 percent at 30,490 in late trade.
Australian shares ended the first trading day of the New Year on a subdued note in the absence of overseas leads. The benchmark S&P/ASX200 index ended down 3.80 points or 0.06 percent at 6,061.30 while the broader All Ordinaries index finished 0.02 percent lower at 6,166.
Banks succumbed to selling pressure, with Commonwealth, Westpac and ANZ losing between 0.2 percent and 0.6 percent. Mining giant BHP Billiton rose 0.4 percent and Rio Tinto added 0.9 percent, aided by higher iron ore prices, while smaller rival Fortescue Metals Group gained more than 1 percent.
Gold miner Newcrest Mining advanced 1.1 percent, utility AGL Energy rose 0.7 percent and telco giant Telstra added 0.8 percent.
On the economic front, Australia's manufacturing sector continued to expand strongly at the end of the year, the latest survey from the Australian Industry Group revealed. The PMI dropped to 56.2 in December from 57.3 in November.
South Korea's Kospi average rose half a percent to close at 2,479.65 amid ebbing tensions on the Korean Peninsula. LG Chem rallied 1.5 percent after the chemicals maker announced it would spend more than 1 trillion won (US$937 million) on research and development this year.
South Korea's manufacturing sector deteriorated at the end of the year, albeit marginally, survey figures from IHS Markit showed today.
Indonesia's manufacturing activity deteriorated for the first time in five months in December, while Taiwan's manufacturing activity expanded at the fastest pace in more than six-and-a-half years in the month, separate surveys showed.
India's manufacturing activity expanded at the sharpest pace in five years in December, driven by strong growth in output and new orders.
Markets in Japan and New Zealand were closed for holidays. Singapore's Straits Times index was rising 0.8 percent after advance estimates from the government showed the country's economy grew faster than estimated in the last three months of 2017, helped by robust manufacturing growth.
India's Sensex was marginally lower and Malaysia's KLSE Composite index was declining as much as 0.9 percent, while Indonesia's Jakarta Composite index was little changed with a positive bias and the Taiwan Weighted was up 0.6 percent.
by RTT Staff Writer
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