China manufacturing data, South Korea CPI

Asia-Pacific markets mostly fell on the last trading day of the year as investors assessed China’s manufacturing growth that missed expectations.

China’s purchasing managers’ index for December came in at 50.1, missing expectations, signaling that Beijing’s stimulus measures were not sufficient to meaningfully boost the country’s ailing economy.

Analysts polled by Reuters forecast a reading of 50.3, the same as November PMI. A reading above 50 indicates expansion in activity, while a figure below that level points to contraction.

Hong Kong’s Hang Seng Index ended a shortened trading day marginally higher at 20,059.95. Mainland China’s CSI 300 fell 0.6%.

Australia’s S&P/ASX 200 dropped 0.92% to close at 8,159.1 on a shortened trading day.

Taiwan’s Taiex fell 0.67%.

Japan and South Korea’s stock markets are closed for the New Year’s Eve holiday. South Korea’s consumer inflation accelerated in December, rising 1.9% year on year. CPI came in at 1.5% in November. On a month-on-month basis prices rose 0.4%.

Overnight in the U.S., stocks moved lower as a banner year for investors appears to be ending on a sour note.

Trading was choppy throughout the day, and the Dow was down more than 700 points at session lows. There was no apparent news catalyst for Monday’s decline, and trading was expected to be light given the shortened week

The Dow Jones Industrial Average lose 418.48 points, or 0.97%, to close at 42,573.73. The S&P 500 fell 1.07% to 5,906.94, and the Nasdaq Composite slid 1.19% to 19,486.78.

—CNBC’s Jesse Pound and Samantha Subin contributed to this report.