Asian indices suffer as China posts weak export figures
- Asian Market
- 2 months ago
Asian markets have had a torrid exchange day as most indices have posted losses, following a drastic drop in China’s exports, 20.6% in the month of February, a clear sign of a lessening global demand for its products and clearly suffering from the current trade standoff with the U.S.
Mainland China’s Shanghai Composite fell by 3.3%, with the Shenzhen Composite retreating by a lesser 1.6%.
Hong Kong’s Hang Seng shed 1.7% as China Life Insurance and Tencent both traded lower by 3.9% and 2.7% respectively.
In Seoul the Kospi continued the trend as it went down by 1.3% as shares of Hyundai and SK Hynix tumbled.
The Nikkei 225 slipped by 2% with Nintendo, Sony and Fast Retailing all reporting losses of 2% and above.
Rounding things up in the region, the Aussie ASX 200 was off the pace by 0.9% with Oil Search and Rio Tinto falling by 2.1% and 1.5% respectively.
Source: Smart Trend Team