Traders are waiting for the Tuesday release of China’s official manufacturing PMI data (HECTOR RETAMAL)
<p>Hong Kong (AFP) – Asian markets were mixed in early trade Monday, with activity thinning out as investors wind down for the end of the year, with lingering optimism over easing US-China trade tensions driving some gains.</p><p>Stocks took their lead from a mixed finish to a quiet week on US trading floors, after the Dow edged to a fresh record on Friday, but the Nasdaq retreated after 10 straight all-time highs.</p><p>In early Asian trade Hong Kong was up 0.51 percent and Shanghai gained 0.52 percent.</p><p>Tokyo’s benchmark Nikkei was slightly lower and Sydney, Jakarta and Manila were also marginally down.</p><p>Taipei put on half a percent. </p><p>"Investors appear to be growing a tad apprehensive about chasing the record setting US equity market risk-reward premise into year-end," Stephen Innes, chief Asia market strategist at AxiTrader said in a note.</p><p>Analysts have attributed the latest run of US records to upbeat investor sentiment based on a lower risk of recession in the immediate future, a mellowing of US-China trade tensions and accommodative monetary policy.</p><p>Stocks have followed a nearly unbroken line upward since early October, drifting higher much of last week in the quiet period between the Christmas and New Year’s holidays.</p><p>"The overall picture is one of book squaring and profit-taking in Asia with investors preferring to wait until next week before loading up on the first trades of a new decade," Jeffrey Halley, senior Asia Pacific market analyst at OANDA said in a note.</p><p>Investors will also be watching for key policy announcements in the region this week.</p><p>North Korean leader Kim Jong Un is to give his set-piece New Year’s speech on Wednesday, with all eyes on nuclear-armed Pyongyang’s threat of a "new way" after its end-of-year deadline for sanctions relief from the US.</p><p>China’s Xi Jinping is also scheduled to give a New Year’s address, while traders will also be watching for the Tuesday release of China’s official manufacturing PMI data. </p><p>Elsewhere Monday, oil prices edged higher on continued demand, mainly sidestepping comments from OPEC on Friday that the cartel would discuss ending production curbs next year.</p><p></p><p>- Key figures around 0330 GMT -</p><p></p><p>Tokyo – Nikkei 225: DOWN 0.52 percent at 23,714.68</p><p>Hong Kong – Hang Seng: UP 0.51 percent at 28,372.16</p><p>Shanghai – Composite: UP 0.52 percent at 3,020.80</p><p>Pound/dollar: UP at $1.3112 from $1.3074 at 2200 GMT</p><p>Euro/pound: DOWN at 85.40 pence from 85.47 pence </p><p>Euro/dollar: UP at $1.1202 from $1.1175 at 2200 GMT</p><p>Dollar/yen: DOWN at 109.13 from 109.46</p><p>Brent Crude: UP 0.26 percent at $68.34 per barrel</p><p>West Texas Intermediate: up 0.1 percent at $61.79 per barrel</p><p>New York – Dow: UP 0.1 percent at 28,645.26 (close)</p><p>New York – Nasdaq: DOWN 0.2 percent at 9,006.62 (close)</p><p>New York – S&amp;P 500: S&amp;P 500: FLAT at 3,240.02 (close)</p><p></p>

Disclaimer: Validity of the above story is for 7 Days from original date of publishing. Source: AFP.