South Korean benchmarks fell on Monday, leading to broader declines in the region.
The Kospi index fell more than 4%, while Kospi 200 futures fell as much as 5%, prompting authorities to temporarily halt trading, according to an official note. Index heavyweights SK Hynix and Samsung Electronics fell by 6.66% and 5.55%, respectively.
The Kosdaq, an index of small companies, lost 4.45%.
Asia-Pacific markets fell on Monday as investors weighed private data on Chinese factory activity in January, while gold extended Friday’s losses.
Chinese factory activity accelerated in January, according to a private survey released on Monday, as manufacturers ramped up production and loaded cargo ahead of the extended Lunar New Year holiday.
China’s headline manufacturing PMI, conducted by S&P Global, rose to 50.3 in January from 50.1 in the previous month, in line with analysts’ expectations of 50.3 in a Reuters poll, SEEbiz reported. A reading above the benchmark of 50 indicates expansion, while one below suggests contraction.
That was the strongest level since October, when the PMI polled in the private sector stood at 50.6.
Japan’s Nikkei 225 added 0.13%, while the Topix added 0.52%.
Hong Kong’s Hang Seng index fell 1.64%, while the mainland’s CSI 300 fell 0.68%.
Australia’s S&P/ASX 200 fell 1%.
Gold and silver are in focus after sharp declines on Friday. Spot gold traded 5% lower at $4,612 an ounce, while silver fell about 4% to $81,189 an ounce.
