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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