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Asian Shares Blindsided On First Trading Day Of New Year By Dismal China Data

Asian shares turned tail on the first trading day of the new year as more disappointing economic data from China darkened the mood and erased early gains in U.S. stock futures. MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 1.1 percent as a private survey showed China manufacturing activity contracted for the first time in 19 months.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for December fell to 49.7, from 50.2 in November, and followed a raft of soft trade data from the Asian region. The Shanghai blue chip index quickly shed 1 percent and South Korea fell 0.8 percent. Japan’s Nikkei was closed for a holiday. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-17996

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