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Asian markets down following weak Chinese data

  • Regular
  • Asian Market
  • 6 months ago
  • 68

Stocks in Asia traded lower Monday morning following significantly weaker-than-expected Chinese trade data released over the weekend.

Weak data from China has resulted in a slump for Asian markets.

Japan's Nikkei dropped by 2% and the Topix fell by 1.88%.

Japan Display shares tumbled by 9.09% following the announcement that they will not go ahead with planned production cuts.

South Korea's Kospi dropped 1.45%, chipmaker SK Hynix fell 2.69% erasing Friday’s gains.

The Australian ASX200 fell by 1.71% with the lowest figures since December 2016 and all of its Big Four banks suffering losses.

 

 

Source: Smart Trend Team