Shares in Asia slump notwithstanding mildly upbeat regional trade data
On Thursday, stocks in China traded lower, as market participants noted the pickup in Chinese imports, amid still sluggish exports.
The Shanghai Composite descended 0.12% after the data as well as heading into the midday break. Additionally, the Nikkei 225 sank 0.24% notwithstanding better than expected second quarter GDP, while the S&P/ASX 200 edged down 0.91%.
Japan disclosed the adjusted current account with a surplus of about ¥1.45 trillion. That’s below the ¥1.59 trillion surplus observed as well as an un-adjusted current account surplus of ¥1.938 trillion, also lower than the expected ¥2.09 trillion surplus. Besides this, in Japan, bank lending for August grew 2% year-on-year as expected.
Overnight, American stocks were mixed after Wednesday’s close, as profits in the Oil & Gas, Telecoms as well as Financials sectors led shares up, while losses in the Consumer Goods, Basic Materials and also Healthcare sectors brought shares down.