Wednesday , January 20 2021

Asian shares fell after Chinese trade data missed expectations



Asian stocks declined by at least 1% on Monday as data shows that China's exports weakened before US-China trade talks and tracked last week's US stock market crash

The Japanese Nikkei

NIC, -2.21%

with the 2.25% drop, against a fall of 0.4% against the yen.

China's export growth sank in November after global demand has weakened, adding Beijing's pressure ahead of trade talks with Washington.

Exports rose 5.4 percent from the previous year to 227.4 billion dollars, which is a significant decline compared to an increase of 12.6% for the previous month, customs data show on Saturday. Imports grew 3 percent to 182.7 billion dollars, a sharp turnaround in the 20.3 percent growth in October.

This adds that the slowdown in the second largest economy in the world is deepening as Chinese leaders are preparing for talks with President Donald Trump on Beijing's technology policy and other stimuli.

The financial resources in the region were weak, helped by the continued decline in bond yields; 10-year government securities fell to 2.83%. The value of the shares in Australia

XJO, -2.00%

declined by 2%, while shares in Hong Kong

HSI, -1.41%

decreased by about 1.5%. Jakarta's composite index

JAKIDX, + 0.18%

turned out to be far better than the rest of Asia, reassuring only 0.2 percent after being among the few that rose last week.

S & P 500 futures

ESA8, -0.78%

were out of session but still declined by 0.7%.

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