Stocks in Australia, South Korea and China fell, while Japanese stocks gave up early gains to stay unchanged
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China has a trade surplus in August of 68.36 billion dollars, down on 78.65 billion in the same month of 2022 and below analysts’ estimates of 73.9 billion. The figure, reported by the Chinese Customs, which confirms the difficulties of the economy, is the lowest since May and is the result of exports amounting to 284.87 billion (-8.8% on an annual basis due to weak external demand, but better than the forecasts of -9.2%) and of an import of 216.51 billion (-7.3%), slowing down for the sixth consecutive month (-9% the estimates on the eve). Exports and imports had had a double-digit drop in July.
I Asian markets are down today, with Tokyo’s Nikkei 225 shedding 0.7% to 33,020 points, Hong Kong’s Hang Seng 0.96% to 18,251 points and the Shanghai Composite 0.54% to 3,141.08 points. The Component of Shenzhen fell by 1.24% to 10,385.13 points, and the Kospi of Seoul by 0.78% to 2,543.43 points. The decline in Asian markets comes on the heels of Wall Stree, where strong economic data has revived concerns that the Federal Reserve may keep interest rates high for longer than investors had hoped. The S&P 500 fell 0.7% to close lower for the second day. The Nasdaq 100 fell 0.9%. US futures are down.
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2023-09-07 06:22:30
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