China’s December factory activity weaker than expected

Asian markets were mixed on Thursday, with Chinese stocks leading losses, as trading resumed after the New Year's Day holiday. Mainland China's CSI 300 fell 1.42% while the Hang Seng index was 1.47% down, as Asia's factory powerhouse ended the year on a soft note.
That's as China's Cai-xin manufacturing purchasing managers' index for December fell to 50.5, missing forecasts of 51.7. Meanwhile South Korea's Kospi slipped 0.37% and the Kosdaq added 0.7%. As Asia's fourth largest economy's PMI fell to 49 in December. Slipping below the 50 mark that separates expansion from contraction for the third time since august. Output shrank for the fourth consecutive month and the decline was steeper than the previous month, while new orders also fell.