Most Asian markets were trading lower on Monday after data showed that manufacturing growth in the region’s leader China slowed in November.
China’s official purchasing managers’ index (PMI) dipped to 50.3 in November from October’s 50.8, closer to the 50 point mark that separates growth from contraction.
Analysts had expected a figure of 50.6.
In Greater China, Hong Kong’s Hang Seng index fell 620 points, or 2.6%, to 23,367.45.
The Shanghai Composite closed down 2.68 points at 2,680.16.
On Monday, the government published draft rules for a bank deposit insurance scheme. The rules were the latest in a series of moves to help liberalise China’s banking system and interest rates in order to allow banks to compete on a commercial basis.
Shares in China’s Everbright Bank rose as much as 9% before closing up 3.2%.