Markets see muted performance

Stock markets in the Chinese mainland saw muted performance on the first day of trading of the new year.

The benchmark Shanghai Composite Index was down slightly by 6.59 points or 0.31 percent to 2,109.39 points on Thursday. The Shenzhen Component Index fell by 7.40 points or 0.09 percent to 8,114.39 points.

Combined turnover on the two bourses on Thursday was 159.78 billion yuan ($26.40 billion), down from the previous trading day's 163.76 billion yuan, partly because investors are waiting for new IPOs following the resumption of approvals Monday.

Shares in brokerages had risen in the previous trading session thanks to the resumption of IPOs, but they fell back on Thursday.

China Merchants Securities Co declined by 1.03 percent to 12.55 yuan, while Southwest Securities Co fell by 1.81 percent to 9.75 yuan.

Thursday's decline coincided with the release of data showing a slowdown in factory activity.

HSBC said Thursday that its final purchasing managers' index (PMI) reading for December 2013 fell to 50.5, down from 50.8 in November.

Weak performance by banks, liquor makers, coal companies, baby formula producers and property developers also weighed on the stock market on Thursday.

Research firm iiMedia Research published a report Thursday on wearable electronics and technology, which said that China's wearable devices market will be worth 11.49 billion yuan in 2015, boosting related stocks.

Shares in Universal Scientific Industrial Shanghai Co and two other stocks surged by the daily limit of 10 percent on Thursday.

LED-related stocks also soared on Thursday, with eight companies - including Shenzhen-based Ledman Optoelectronic Co and Shenzhen Changfang Light EDL Co - increasing by the daily limit of 10 percent.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, jumped on Thursday by 28.56 points or 2.19 percent to 1,333.00 points.