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Asian Markets Trade Lower on China’s Disappointing Economic Data

Asian markets traded lower on Wednesday, October 14, as investors digested disappointing economic data from China.

Chinese inflation figures came in weaker than expected, and came a day after trade figures showed a steep fall in imports.

Japan’s benchmark Nikkei index closed down 1.8% at 17,907.39.

China’s main index Shanghai Composite edged up 0.2% to 3,299.51, while in Hong Kong the Hang Seng index was down 0.61% at 22,460.16.Asian markets October 2015

In Australia, the S&P/ASX 200 fell 0.56% to 5,173.80, while South Korea’s benchmark Kospi index dropped 0.55% to 2,007.72.

The latest official data from China – the world’s second largest economy – showed consumer inflation slowed to 1.6% in September from 2% in August. Wholesale inflation was 5.9%, unchanged from the month before.

The wholesale numbers were in line with expectations, but consumer inflation was expected to rise 1.8%. China’s target for consumer inflation is about 3%.

Economic data released on October 13 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.

As it continues to face a slowdown in economic growth, China is trying to move away from an export-led economy towards one led by consumer demand.

The sharp fall in imports posted on October 13 raised concerns around the world that domestic demand in China is weakening.

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.