Asia report: Markets mixed, Chinese tech stocks end year on high

Asian stocks finished the final session of the year in a mixed state on a quiet Friday, with technology plays leading the gains in Hong Kong.

Traders in Japan and South Korea enjoyed a New Year’s Eve break as markets there remained closed, as the yen weakened 0.03% against the dollar to last trade at JPY 115.11.

On the mainland, the Shanghai Composite was up 0.57% at 3,639.78, and the smaller, technology-heavy Shenzhen Composite was 0.52% firmer at 2,350.14.

Fresh data out of China showed factory activity accelerating slightly in December, with the official purchasing managers’ index (PMI) reaching 50.3, from November’s 50.1.

That was above Reuters-polled expectations for the PMI to fall below the 50-point level that separates expansion from contraction.

The Hang Seng Index in Hong Kong was 1.24% higher at 23,397.67, as the main board in the special administrative region was given a boost by Chinese technology stocks.

E-commerce behemoth Alibaba jumped 8.19%, with Meituan advancing 3.21% and Tencent gaining 3.02%.

Oil prices were lower as the region headed to their New Year parties, with Brent crude last down 0.74% at $78.94 per barrel, and West Texas Intermediate losing 0.81% to $76.37.

In Australia, the S&P/ASX 200 closed its truncated New Year’s Eve session down 0.92% at 7,444.60, while across the Tasman Sea, New Zealand’s S&P/NZX 50 lost 0.1% to finish its shortened Friday at 13,033.77.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.29% at AUD 1.3753, and the Kiwi advancing 0.2% to NZD 1.4605.