Indian markets are closed today on account of Gurunanak Jayanti. Stocks in Asia-Pacific began the week on a flat note as investors digested the release of China's official manufacturing Purchasing Managers' Index (PMI) for November.
China's National Bureau of Statistics announced Monday that the official manufacturing PMI for November was at 52.1. That was above expectations for a 51.5 reading forecast by analysts in a Reuters poll. The Japanese Nikkei was marginally higher in trade, while the Korean Kospi and the Australian indices edged lower. Indian markets are now slated to open on Tuesday, Dec 1 for trading.
The Indian stock market indices closed lower on Friday after hitting all-time highs during the week. BSE's Sensex closed 110 points, or 0.25% lower at 44,149 while NSE's Nifty 50 slipped 18.05 points, or 0.14% to 12,968.
The markets are set to open the week in reaction to GDP data released at the end of last week and progress in vaccine arrangements for India. The government data released on Friday showed that India's GDP contracted by 7.5% for the July-September quarter when compared to the same period last year. The data confirmed doubts that India entered recession in the second quarter of FY 2020-21 after contracting 23.9% in the previous quarter.
Meanwhile, the Serum Institute of India (SII) said it was in the process of applying for an emergency use licence for the AstraZeneca-Oxford's Covid-19 vaccine candidate in India in two weeks.
Stocks in Asia-Pacific was little changed as investors reacted to the release of China's official manufacturing Purchasing Managers' Index (PMI) for November that showed expansion in manufacturing activity.
In Japan, the Nikkei 225 sat below the flatline while the Topix index dipped 0.56%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.08% lower.
The US stock market ended a record week that saw the Dow Jones Industrial Average surge past the 30,000-level for the first time. The benchmark has since dipped below the threshold. The S&P 500 and the Nasdaq both ended at fresh record highs on Friday.
The pan-European Euro Stoxx 600 index closed 0.4% higher on Friday with most sectors and major bourses finishing flat.