Asian Shares End Mixed On Last Trading Day Of 2020

Asian stocks turned in a mixed performance on Thursday, the last trading day of 2020, as investors booked profits amid thin holiday trading. Some of the regional markets were closed for New Year's Eve, including Japan, South Korea, Indonesia, the Philippines and Thailand.

Chinese shares rose for a second straight day, while Hong Kong shares extended their winning streak to a third day in a shortened trading session.

The benchmark Shanghai Composite Index surged 58.62 points or 1.7 percent to 3,473.07. Hong Kong's Hang Seng Index rose 84.02 points or 0.3 percent to 27,231.13, but ended the year with a loss of 3.4 percent.

Survey data from the National Bureau of Statistics showed that China's manufacturing sector growth moderated at the end of the year.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November, while it was forecast to drop marginally to 52.0. However, a reading above 50 indicates expansion in the sector.

In Hong Kong, Geely Automobiles gained 8.4 percent, chipmaker Semiconductor Manufacturing International jumped 8.3 percent and Brilliance China Automotive climbed 7.3 percent.

Australian shares closed notably lower in an abbreviated session, extending losses from the previous day and ending the year with a loss of 1.5 percent.

An increase in the number of coronavirus cases in New South Wales and Victoria, Australia's two most populous states, and strict restrictions imposed on New Year's Eve celebrations prompted investors to book profits.

The benchmark S&P/ASX 200 Index tumbled 95.30 points or 1.4 percent to 6,587.10 and the broader All Ordinaries Index slumped 92.30 points or 1.3 percent to 6,850.60.

Among the major miners, Fortescue Metals lost 2.3 percent, while Rio Tinto and BHP Group slid 1.7 percent each.

In the banking sector, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac tumbled in a range of 1.5 percent to 1.9 percent.

New Zealand shares also ended lower for a second straight day, with the benchmark NZX 50 Index sliding 125.50 points or 1 percent to 13,091.64 on light trading volume. However, the market closed the year with a gain of more than 13 percent.

Shares of Meridian Energy tumbled 5.5 percent after the electricity generator received a notice from the market regulator earlier this week, seeking an explanation for a 20 percent increase in the company's share price since December 21.

On Wall Street, stocks closed modestly higher on Wednesday after U.K. regulators approved a coronavirus vaccine developed by AstraZeneca and the University of Oxford for emergency use.

The Dow and the Nasdaq added 0.2 percent each, while the S&P 500 inched up 0.1 percent.

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