Asian Stock Markets Trade Lower on Latest Chinese Economic Data

Asian stock markets have traded lower on October 13 following the release of disappointing Chinese trade numbers.

China’s latest economic data showed that imports in September fell by a more-than-expected 17.7% in yuan-denominated terms, while exports fell 1.1% from a year earlier.

The sharp fall in imports raised concerns on weakening domestic demand.

The Shanghai Composite ended up 0.2% at 3,293.23, while Hong Kong’s Hang Seng index closed down 0.6% at 22,600.46.

Japan’s benchmark Nikkei index ended down 1.1% at 18,234.74 after being closed for a public holiday on October 12.

Shares in electronics maker Sharp rose 6.5% on reports a government-backed fund may make an investment in the struggling firm.

In Australia, the S&P/ASX 200 closed down 0.9% at 5,202.9, dragged down by oil-related stocks following a sharp fall in crude prices on October 12.

South Korea’s benchmark Kospi finished lower by 0.13% at 2,019.05.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.