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8 Sep 2015
Asian markets mostly mixed, Shanghai pares losses on China trade figures
FXStreet (Mumbai) - Asian indices are seen trading mostly mixed in the mid-Asian session, with markets reacting to the latest China trade figures at a snail pace.
Stocks on the Chinese indices erased most losses and following the release of better than expected Chinese trade figures with the country’s surplus ballooning $57.7 bn vs $48.00bn expected while its exports also came in at -6.1% vs -6.6% expected. However, Chinese imports saw a major drop, -14.3% vs -7.9% expected.
Nikkei – the main laggard
Despite a slightly better China’s trade data, the Japanese benchmark index, the Nikkei remains little changed and ditches its other Asian counterparts lower. Markets continue to digest the Japan’s GDP data released in early Asia, keeping the bearish pressure intact on the index.
The Japanese economy contracted 0.3% in the June quarter, rather than 0.4% as initially reported. However, the main boost to the GDP data came from an upward revision to inventories.
Meanwhile, USD/JPY now trades at 119.23, almost unchanged so far while Japan’s benchmark index, the Nikkei edged lower by -0.36% to 17,725.
The Chinese benchmark index, the Shanghai Composite snapped losses and now trades muted at 3,078 points while the Hong Kong's benchmark Hang Seng index also trades 0.20% lower at 20,626.
Among other Asian indices, the benchmark Australian S&P/ASX 200 index leads the Asian markets higher, up 1.02% at 5,081. While Korea's benchmark Kospi index pares losses and trades at 1,876 points in Seoul.
Stocks on the Chinese indices erased most losses and following the release of better than expected Chinese trade figures with the country’s surplus ballooning $57.7 bn vs $48.00bn expected while its exports also came in at -6.1% vs -6.6% expected. However, Chinese imports saw a major drop, -14.3% vs -7.9% expected.
Nikkei – the main laggard
Despite a slightly better China’s trade data, the Japanese benchmark index, the Nikkei remains little changed and ditches its other Asian counterparts lower. Markets continue to digest the Japan’s GDP data released in early Asia, keeping the bearish pressure intact on the index.
The Japanese economy contracted 0.3% in the June quarter, rather than 0.4% as initially reported. However, the main boost to the GDP data came from an upward revision to inventories.
Meanwhile, USD/JPY now trades at 119.23, almost unchanged so far while Japan’s benchmark index, the Nikkei edged lower by -0.36% to 17,725.
The Chinese benchmark index, the Shanghai Composite snapped losses and now trades muted at 3,078 points while the Hong Kong's benchmark Hang Seng index also trades 0.20% lower at 20,626.
Among other Asian indices, the benchmark Australian S&P/ASX 200 index leads the Asian markets higher, up 1.02% at 5,081. While Korea's benchmark Kospi index pares losses and trades at 1,876 points in Seoul.