This week's important schedule: China and the U.S. will announce December PMI, and domestic and overseas markets will close before New Year's Day

A summary of major financial events from December 30 to January 4, all in Beijing time:

This week's key focus: China's December official and Caixin PMI releases, the U.S. releases December ISM manufacturing index, and markets at home and abroad will be closed on New Year's Eve.

China's December Official and Caixin PMI Releases

• On Tuesday (31st), China will release the December official manufacturing, non-manufacturing, and composite PMI.

With a series of existing and incremental policies continuing to work in synergy, last month's manufacturing PMI rose within the expansion zone, and the pace of expansion accelerated. In November, the manufacturing purchasing managers' index was 50.3%, an increase of 0.2 percentage points from the previous month, marking three consecutive months of recovery, with a slight acceleration in manufacturing expansion.

The non-manufacturing business activity index was 50.0%, down 0.2 percentage points from the previous month; the composite PMI output index was 50.8%, unchanged from the previous month, indicating that the overall economic prosperity level in China remains stable and expanding. Yang Xin from Hongta Securities stated:

“The new orders index expanded for the first time in six months. Although new export orders are still contracting, they have significantly improved month-on-month. Both factory prices and raw material prices have dropped sharply, with the latter showing a more pronounced decline, helping mid- and downstream enterprises improve profit margins. Small enterprises are still in the contraction zone, with over 60% of companies reflecting insufficient demand.”

• On Thursday (2nd), S&P Global will release China's December Caixin manufacturing PMI.

Last month's data showed that China's manufacturing sector accelerated its expansion, with an increase in new orders driving steady production growth, and companies' confidence in the coming year also improved. China's November Caixin manufacturing PMI was 51.5, up 1.2 percentage points from the previous value of 50.3, further accelerating expansion above the threshold level.

Wang Zhe, a senior economist at Caixin Think Tank, commented:

“In November, manufacturing supply increased, demand expanded, companies increased purchases, actively replenished inventory, and optimistic sentiment rebounded, with prices on both the cost and sales sides rising to varying degrees, while transportation and logistics remained stable. However, companies remain cautious in their approach to employee utilization.”

U.S. Releases December ISM Manufacturing Index

• On Friday (3rd), the U.S. will release the December ISM manufacturing index.

Last month's data showed that the U.S. manufacturing sector in November was at 48.4, with a contraction less than expected, and new orders recorded their first increase since March of this year.

Although U.S. manufacturing remains in contraction, most sub-indices in the November ISM manufacturing PMI data showed improvement, combined with an overall PMI data that reached a five-month high, indicating that U.S. manufacturing is stabilizing after two years of sluggishness.

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, pointed out that optimistic sentiment is on the rise:

In November, the sentiment among U.S. manufacturers improved, although any feel-good factors have yet to translate into increased factory output.

Optimism for the coming year has risen to its highest level in two and a half years, thanks to the elimination of uncertainties before the election, as well as the prospect of stronger economic growth and increased protectionism following the inauguration of Trump's new administration in 2025.

New Year's Eve, domestic and overseas markets closed

On Tuesday (31st), there will be no night trading on the Shanghai Gold Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Exchange, and Dalian Commodity Exchange; the Hong Kong Stock Exchange will have a half-day trading session, randomly closing between 12:08 and 12:10.

In overseas markets, on Tuesday, trading of Brent crude oil futures contracts on the Intercontinental Exchange (ICE) will end early at 04:00 Beijing time on January 1st; the Tokyo Stock Exchange and the Seoul Stock Exchange will be closed for one day; the German and Italian markets will be closed for one day, while the French market will have a half-day trading session; the London Stock Exchange will close early at 20:30 Beijing time; the Sydney Stock Exchange will close early at 11:10 Beijing time.

Other important data, meetings, and events

On Wednesday, South Korea will release its import and export data for December.

On Thursday, the U.S. will announce the number of initial jobless claims for the week ending December 28 and the final value of the December Markit Manufacturing PMI.

On Saturday, Richmond Fed President Barkin will deliver a speech.

New IPO opportunities

During the week (December 30 - January 3), there will be 2 new stocks available for subscription in the A-share market, with 0 new stocks listed.

A total of 36 new funds (combined statistics for Class A and Class C) will be issued during the week, including 20 index funds, 8 mixed funds, 4 bond funds, and 2 fund of funds (FOF).