China stocks edge lower
On Wednesday, Chinese shares retreated as market participants awaited Chinese economic data as well as a crucial verdict next weeek by benchmark provider MSCI Inc.
The Shanghai Composite Index lost 0.3%. The Hang Seng Index dropped 0.4%, while Australian S&P/ASX 200 sagged 0.1%. As for Korean Kospi, this index sank 0.5%. The only exception was Japanese Nikkei Stock Average with its 0.6% revenue.
Chinese shares went down after news that in May China’s exports sagged 4.1%, compared to the 1.8% descend in April.
The release appeared to be better than a sag of 4.6% tipped by a survey of economists by the well-known paper, the Wall Street Journal. However, the stock markets reacted in the muted way.
Market participants are quite cautious ahead of more economic publications in coming days. They’re particularly interested in industrial profits, Chinese inflation as well as new Yuan loans.
Last week, Chinese shares got decent support from rumors that MSCI is about to announce the inclusion of A-stocks traded on the mainland.