Global stocks mixed on lower China manufacturing

Associated Press

BEIJING (AP) — Global stock markets were mixed Thursday after weaker Chinese manufacturing data suggested the world's second-largest economy might be slowing.

Oil rose and stayed above $98 per barrel on hopes for stronger demand this year.

China's benchmark Shanghai Composite Index shed 0.3 percent to 2,109.3 after two manufacturing surveys showed activity slowed in December. Hong Kong's Hang Seng Index lost 0.1 percent to 23,278.0.

"This is the first moderation in six months, suggesting that the growth recovery since mid-July might have started to lose some stream," Bank of America economists Xiaojia Zhi and Ting Lu said in a report.

An industry group, the China Federation of Logistics & Purchasing, said its purchasing managers index declined to 51 from November's 51.4 on a 100-point scale on which numbers above 50 show an expansion. A separate survey by HSBC Corp. declined to 50.5 from November's 50.8.

Tokyo was closed for the New Year's holiday. Seoul lost 2.2 percent to 1,967.1, while Taiwan's Taiex was flat at 8,612.5. Benchmarks in Malaysia and Thailand also fell. India's Sensex added 0.5 percent to 21,239.0.

In Europe, France's CAC-40 added 0.2 percent to 4,304.2. Germany's DAX gained 0.7 percent to 9,620.2.

In currency markets, the dollar added 0.1 percent to 105.38 yen. The euro edged down to $1.372.

Benchmark oil added 28 cents to $98.70 per barrel in electronic trading on the New York Mercantile Exchange.

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