"China's factory activity expanded at a slower clip in December, pulling back from a three-year high the previous month as new orders softened, a private survey showed on Thursday. But business confidence shot up amid thawing trade tensions with the United States, offering some support for the cooling economy. Beijing and Washington agreed last month on an initial deal that will de-escalate their prolonged trade war. More: Date set for US-China trade deal sends world markets to new high Singapore slump: Economic growth falls in 2019 on trade woes Hong Kong economy to shrink in fourth quarter, says finance chief The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for December eased to 51.5 from 51.8 the previous month missing analysts' expectations that the reading would hold steady. But it remained above the 50-mark that separates expansion from contraction for the fifth straight month..."