05:52 AM EST, 12/31/2024 (MT Newswires) -- Most Asian markets were down at the end of Tuesday trading as investors assessed China's manufacturing activity in December.

Hong Kong closed in the green, while Shanghai was down at the last trading day of the year. Stock markets in Japan, South Korea, and Thailand were closed for the New Year holiday.

The Hang Seng Index was up 0.1% at 20,059.95, buoyed by a resurgence in the IPO market.

Exchange filings from Tuesday reveal that at least five firms, including toy maker Bloks Group and autonomous vehicle tester Beijing Saimo Technology, intend to launch IPOs in January, aiming to raise a combined 3.3 billion Hong Kong dollars ($420 million).

Top gainers include China Shenhua Energy, which added 3.1%, while Li Auto declined by 3.7%.

On the mainland, the Shanghai Composite fell by 1.6%, or 55.56 points, to 3,351.76.

China's manufacturing purchasing managers' index or PMI slipped month on month but stayed in expansionary territory at 50.1, according to data from the statistics bureau, missing the 50.3 index forecasted by Reuters-polled analysts.

On the other regional exchanges, the Taiwan TWSE was down almost 1%; the Australian ASX 200 declined by 0.9%; and the Singapore Straits Times Index fell by 0.2%.