Forexpros – Asian stocks were mixed to lower on Tuesday as the market digested largely disappointing Chinese trade figures.
In China, imports in June rose 6.3% from a year earlier, well below market calls for a 11-12.7% increase.
The country’s trade surplus hit USD31.7 billion, better than expected.
During Asian trading on Tuesday, Hong Kong’s Hang Seng Index was down 0.29%, Australia’s S&P/ASX200 was down 0.35%, while Japan’s Nikkei 225 Index was up 0.18%, though the Chinese data ate into gains in Japan.
The Chinese trade numbers came in wake of disappointing economic figures out of China and other parts of Asia as well earlier this week.
Japan on Monday reported core machinery orders fell 14.8% in May, far worse than market expectations for a decline of 2.4%.
In China, meanwhile, inflation in June rose 2.2% on year, a little lower than market calls for 2.3%.
On Friday, the U.S. Bureau of Labor Statistics reported the economy added a net 80,000 nonfarm payrolls in June, below market forecasts for a gain of around 90,000.
Stocks continued to fall on sentiment that the global economy continues to cool.
In Hong Kong, top decliners included China Shenhua, down 10.29%, Cheung Kong, down 1.95%, and Cathay Pacific Air, down 1.93%.
In Australia, top decliners included Aquarius Platinum, down 21.03%, Aquila Resources, down 7.97%, and Goodman Fielder, down 7.14%.
European stock futures indicated a lower opening.
France’s CAC 40 futures pointed to a loss of 0.34%, while Germany’s DAX 30 futures signaled a loss of 0.41%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.26%.
Dow Jones Industrial Average futures were down 0.24% while the S&P 500 futures were down 0.29%.
Later Tuesday, the New Zealand Institute of Economic Research will release a business confidence report, followed by industry data on house price inflation.
Australia will release a report on business confidence as well.
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