South Korean benchmarks tumbled Monday, leading wider declines in the region as investors assessed private data for China’s factory activity in January, while gold extended losses from Friday.
In Japan, the Nikkei 225 stumbled 667.67 points, or 1.3%, to 52,655.18.
In Hong Kong, the Hang Seng index collapsed 611.54 points, or 2.2%, to 26,775.57.
The Kospi index fell more than 5% to 4,949.67, while the Kospi 200 futures dropped as much as 5%, prompting authorities to temporarily halt trading, according to an official note. Index heavyweights SK Hynix dipped 8.69% and Samsung Electronics was down 6.29%,
Gold and silver are in focus after Friday’s sharp declines. Spot gold lost around 6% to $4,538 per ounce, having crashed nearly 10% on Friday, when prices plunged below $5,000 an ounce.
CHINA
The CSI 300 in Shanghai lost 100.36 points, or 2.1%, to 4,605.98.
China’s factory activity gathered speed in January, according to a private survey released Monday, as manufacturers accelerated production and loaded cargoes ahead of the extended Lunar New Year holiday.
The RatingDog China General Manufacturing PMI, conducted by S&P Global, rose to 50.3 in January from 50.1 the previous month, in line with analysts’ expectations of 50.3 in a Reuters poll. A reading above the 50 benchmark indicates an expansion, while one below that suggests contraction.
That marked the strongest level since October, when the private-surveyed PMI came in at 50.6.
In other markets
In Korea, the Kospi index gave up 274.69 points, or 5.3%, to 4,949.67.
In Taiwan, the Taiex dropped 439.72 points, or 1.4%, to 31,625.03.
In Singapore, the Straits Times Index sank 12.86 points, or 0.3%. to 4,892.27.
In Australia, the ASX faded 90.55 points, or 1%, to 8,778.60.
In New Zealand, the NZX 50 returned from a long weekend to lose 10.74 points, or 0.1%, to 13,412.44.
