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Chinese Soar on Last Day of Year

Chinese stocks were higher on the final trading day of 2019, with other major markets in Asia either on holiday or seeing an early close.

Tha Hang Seng index declined 0.5%, to close the year at 28,189.75, as shares of Chinese tech giants Tencent fell 2% and Alibaba lost 1.6%. The moves left the Hang Seng index with gains of about 9% for 2019.

Markets in Japan and Korea were shuttered. The Japanese yen traded at 108.65 per U.S. dollar after strengthening from levels above 109.2 yesterday.

Meanwhile, shares in Australia fell in an early close for New Year's Eve, as almost all sectors declined.

The heavily weighted financial sub-index fell 1.3% as shares of Australia's so-called Big Four banks saw losses. Australia and New Zealand Banking Group shed 0.7%, Commonwealth Bank of Australia fell 1.5%, Westpac slipped 0.7% and National Australia Bank declined 1%.

The Australian dollar changed hands at $0.7008 after rising from levels below $0.692 last week.

CHINA

In Shanghai, the CSI 300 gained 14.95 points, or 0.4%, to 4,096.58

For 2019, the Shanghai composite has seen gains of more than 22%, while the Shenzhen component has soared about 44%. The Shenzhen composite has also seen returns of approximately 35.9%. That came following 2018, when Chinese markets saw their worst performance in a decade.

China's official manufacturing Purchasing Managers' Index (PMI) for December came in slightly above expectations on Tuesday, according to the country's statistics bureau.

The PMI figure for December came in at 50.2, slightly above expectations of a 50.1 reading by economists in a Reuters poll. The 50 level in PMI readings separates expansion from contraction.

In other markets

In Taiwan, the Taiex decreased 56.23 points, or 0.5%, to 11,997.14

In Singapore, the Straits Times Index nicked higher 0.39 points to 3,222.83

In New Zealand, the NZX deleted 64.55 points, or 0.6%, to 11,491.90

In Australia, the ASX 200 tumbled 120.75 points, or 1.8%, to 6,684.10