Markets

Asian Stocks Fall After Weak China Data

Asian shares declined after weak Chinese data.

China's official nonmanufacturing Purchasing Managers' Index fell to 54.6 in December from 56.0 in November. December was a four-month low.

Insurance and brokerages in China dropped on news local governments have been given the green-light to issue bonds as a way for them to avoid defaulting on massive debt loads.

In other parts of the region, South Korean shares closed at their lowest levels in four months, weighed by blue-chip stocks.

India's prime minister said he would not seek a third term.

In ADR news, China Finance Online ( JRJC ) said late Thursday Q3 sales rose to $13.2 million from $7.2 million a year ago. Net loss was $1.6 million, down from a loss of $3.2 million a year earlier. Net loss per ADS shrank to $0.07 from a loss of $0.14 last year.

Japanese markets remained closed and will resume trade on January 6.

The Hang Seng closed down 2.24% at 22,817.28 and Shanghai down 1.55% at 2,083.14.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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