Shares in Asia slump notwithstanding mildly upbeat regional trade data

8 September 2016, 16:24
Eko Rediantoro
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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.

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