Asian Markets Mostly Down, Europe Up on First Trading Day of 2024 Amid China Property Woes
• European benchmarks were higher while Asian markets mostly fell on the first trading day of 2024 • Hong Kong’s Hang Seng index fell over 1% and Chinese data showed weakness in manufacturing and property sectors • China Evergrande and other Chinese property developers' stocks declined on news of a 35% drop in new home sales • U.S. futures edged higher, oil prices gained over $1 per barrel, and South Korea’s Kospi index rose • Stocks slipped slightly on Friday but the S&P 500 is just 0.6% shy of an all-time high after 9 straight weeks of gains