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Asian stocks keep the red on weak China import data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Stocks on the Asian bourses took a breather in the recent upsurge and fell in the red on Tuesday amid widespread risk-aversion as the Asian traders assess the latest Chinese trade data.

    China data reinforce risk-off trades

    The Japanese stocks are trading with sizeable losses on account of a stronger yen versus the US dollar and overnight decline in oil prices which weigh on the exports and energy stocks respectively. While mixed Chinese trade numbers also spooked markets as tumbling imports fuelled worries over the headwinds to China’s internal demand.

    Meanwhile, USD/JPY trades -0.13% lower at 119.87 and the Nikkei falls -0.93% to 18,266 points.

    The Chinese stocks also take cues from their Asian counterparts and follow suit amid China data. China's exports slipped 1.1% in September from a year earlier, while imports plunged 17.7%, producing a trade surplus of 376.2 billion yuan. The benchmark index, the Shanghai Composite loses -0.66% to 3,267. While Hong Kong’s Hang Seng drops -0.31% to 22,653.

    The Australian benchmark, the S&P/ASX drops -0.87% to 5,187, and extends declines for the second straight session with mining and energy stocks dragging the index lower.
    For more information, read our latest forex news.
     

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