Investors Eye Trade Data, Stocks Plunge
Date
12/7/2023 8:16:30 AM
(MENAFN- Baystreet) Asia-Pacific markets slumped across the board, mirroring moves on Wall Street as investors assessed trade data from China and Australia.
In Japan, the NIKKEI 225 index slumped 587.59 points, or 1.8%, to 33,858.31.
In Hong Kong, the Hang Seng fell 117.37 points, or 0.7%, to 16,345.89.
Australia's market lost narrowly, after the country's trade surplus in October widened to 7.13 billion Australian dollars, but missed Reuters poll estimates of AU$7.5 billion.
CHINA
In Shanghai, the CSI 300 lost 8.32 points, or 0.2%, to 3,391,28.
China's November trade numbers surprised expectations, with exports climbing 0.5% and imports falling 0.6% year on year. Economists polled by Reuters expected a 1.1% year-on-year drop in exports and a 3.3% climb in imports.
The trade surplus for the world's second-largest economy also widened to $68.39 billion, beating forecasts of $58 billion.
In other markets
In Singapore, the Straits Times Index gave back 12.98 points or 0.4%, to 3,074.26.
In Taiwan, the Taiex dropped 81.98 points, or 0.5%, to 17,278.74.
In Korea, the Kospi index slid back 3.31 points, or 0.1%, to 2,492.07.
In New Zealand, the NZX 50 gained 33.12 points, or 0.3%, to 11,496.61.
In Australia, the ASX 200 erased 5.01 points, or 0.1%, to 7,173.34.
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