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Asian markets are falling as China reports a weakening in exports



In Asia, equities were lower on Monday, extending Wall Street's recent losses as China reported a slowdown in exports.

The Hang Seng Index of Hong Kong

HSI, -1.61%

lost 1.4%, while the Shanghai Composite

SHCOMP, -0.70%

fell 0.6%. The Kospi

SEU, -0.73%

fell 0.7% in South Korea and the Australian S & P ASX 200

XJO, -0.02%

gave 0.3%. The shares also fell in Taiwan

Y9999, -0.52%

and Southeast Asia. Japan's markets were closed for a holiday.

Among the individual camps was the oil producer CNOOC

0883, -4.21%

and the tech giant Tencent

0700, -2,84%

fell in the Hong Kong trade chip manufacturer SK Hynix

000660, -4.61%

fell in South Korea and Taiwan Semiconductor

2330, -0.91%

slipped in Taiwan.

China said its exports to the US declined in December, even though its US trade surplus reached a record $ 323 billion in 2018. The US rose 11.3% to $ 478.4 billion Dollars for the year, even though President Donald Trump's punitive tariffs have been imposed in the battle for Chinese technology ambitions. Customs data showed that imports of American goods increased by only 0.7% compared to 2017. This reflects the impact of Beijing's retaliatory tariffs and the encouragement of importers to buy more from non-US suppliers.

US. Stock indices fell a hair-deep on Friday after oil had weighed on energy companies. The S & P 500

SPX, -0.01%

closed the third week in a row after a brutal stretch in December with a minus of 0.1% to 2,596.26. The Dow Jones Industrial Average

DJIA, -0.02%

fell less than 0.1% to 23,995.95 and the Nasdaq composite

COMP, -0.21%

lost 0.2% to 6,971.48.

"Risk remains averse today as earnings before profit amidst turbulent cross-flows cause investors to take a more defensive approach, even after the Fed has expressed patience in further rate hikes," said Stephen Innes of Oanda a comment. "The markets today moved into the trading data of China. Expected regional trade indicators are likely to be weak and export orders suggest a continued slowdown in sentiment. That actually proved to be the case. "

Benchmark US crude oil

CLG9, -1.07%

gave up 50 cents to $ 51.09 a barrel in electronic trading on the New York Mercantile Exchange. It lost 1.9 percent to $ 51.59 on Friday. Brent crude

LCOH9, -0.98%

the international standard, lost 60 cents to $ 59.88. In London, it fell 1.9 percent to $ 60.48 a barrel.

The dollar

USDJPY, -0.40%

was traded at 108.13 yen, down from 108.48 yen on Friday.

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