Asian markets conclude Thursday’s trade mostly in green

The Asian markets concluded Thursday’s trade mostly in green, on the first trading day of 2014, while Chinese stocks moved lower after manufacturing data came out poorer than expected. Although regional stocks started the day mostly higher, they weakened after HSBC’s PMI release. Thailand’s baht fell for an 11th day, the longest losing streak on record, and stocks slid on concern capital outflows will quicken amid prolonged political unrest in the country. China’s official Purchasing Managers’ Index, pointed to slowing momentum in factory activity. The December reading was 51.0 - slower than 51.4 in the previous month, but still above the 50 mark that indicates an expansion in manufacturing. It was followed by a similar deceleration in HSBC’s PMI, which came out at 50.5 for December, compared with 50.8 in November.

Singapore’s economy contracted in the fourth quarter mainly as a result of weaker manufacturing and construction. Gross domestic product for the three months to December 31 contracted 2.7% on a seasonally adjusted and annualized basis compared with a revised 2.2% increase in the third quarter. Indonesia’s trade posted a surplus for two consecutive months in November, bolstering indication that the country’s current account deficit is narrowing. It was also the largest monthly trade surplus since March 2012. The country posted a $776.8 million trade surplus in November, compared to a revised $24 million surplus in October.