Asia report: Shares mixed as turbulent year ends

Asian shares were mixed on the last day of a turbulent 2020 with as investors pinned their hopes on a global economic recovery over the next 12 months.

Chinese stocks closed 1.72% higher after the country signed a trade deal with the European Union. Hong Kong’s Hang Seng rose 0.31%.

Australian shares finished 1.43% lower as tougher restrictions on movement were introduced to stymie a new outbreak of Covid-19 cases.

The Japanese and South Korean markets were closed.

Shares in China were also boosted by official data also showed activity in the service and factory sector expanding in December, albeit both at a slower pace than the previous month.