Asia-Pacific markets mixed ahead of China factory activity data

China’s official manufacturing Purchasing Managers’ Index for November is expected to come in at 49, below the 50-point mark that separates growth from contraction, according to analysts polled by Reuters.

That’s slightly lower than the reading of 49.2 reported in October.

PMI readings are sequential and represent month-on-month changes in activity.

— Abigail Ng

Chinese health authorities said that officials are “closely watching” the developments of Covid when asked if protests in the region would lead to shifts in its zero-Covid policy.

“China has been following and closely watching the virus as it evolves and mutates,” officials said, according to a translation of Tuesday’s briefing.

– Christine Wang, Evelyn Cheng

Goldman Sachs’ Global Head of Commodities Research Jeff Currie told CNBC that historically, oil stocks have traded at a much higher premium to crude oil prices compared to current price levels.

For instance, the price gap between SPDR Oil & Gas ETF and ICE Brent Crude futures contract was about $66.60 on Tuesday. That’s significantly lower than the $104 gap recorded at the start of January 2017, according to Koyfin data, as the chart below shows.

China’s health authorities released a plan to boost elderly vaccination, according to a notice on the National Health Commission’s website.

Hong Kong-listed shares of CanSino Biologics extended gains in the afternoon session and rose as much as 18% shortly after the announcement was posted.

The notice said authorities should use multiple data points to accurately identify target groups for vaccination for the elderly.

Wall Street pros are worried about the outlook for stocks, and are urging investors to stay defensive. These stocks with margin growth could be safe bets.

Pro subscribers can read more here.

— Zavier Ong

The Dow Jones Industrial Average closed 3.07 points, or 0.01%, higher after trading down for much of the day. The index ended the day at 33,852.53.

Meanwhile, the Nasdaq Composite finished lower by 0.59%, to close at 10,983.78. The S&P 500 slipped by 0.16% to close at 3,957.63.

— Alex Harring