A general view of the Qianwan container terminal in Qingdao port, a port in Shandong province, China on March 17, 2023.
CFOTO | Future publications | Getty Images
Asia-Pacific trade was mixed as China’s trade surplus beat expectations and exports rose 8.5%. Investors may also be awaiting US inflation reports later this week.
China recorded a trade surplus of $90.2 billion, higher than the expected balance of $71.6 billion.
In mainland China, the Shanghai Composite 0.3% index continued its winning streak after hitting a 10-month high on Monday. The Shenzhen component also increased barely.
In Australia, the so-called S&P/ASX200 down 0.35% and South Korea’s Kospi fell 0.32% and Kosdaq also lost 1.33%.
Hong Kong’s Hang Seng index fell 0.37%, while the Hang Seng Tech index fell 0.88%.
Japan is the one exception in the region, with Nike 225 up 0.77% and Topix up 0.97%, due to a rise in stocks of basic materials and energy. Japan saw household spending fall in April, despite economists polled by Reuters expecting a rise.