Investing.com - Asian stocks tumbled Friday despite some decent trade data out of China. Stocks in the region are set for another round of weekly losses even after solid data out of the U.S. and an unexpected rate cut by the European Central Bank.
In Asian trading Friday, Japan’s Nikkei dropped 1.32%. Japanese stocks were dragged lower, in part, by weakness in electronics giant Sony. The broader Topix was also noticeably weaker.
Hong Kong’s Hang Seng slipped 0.63% while the Shanghai Composite lost 1.06% after China’s Customs Administration said exports there jumped 5.6% last month, easily topping expectations calling for growth of 3.2%. Imports rose 7.6%, below the estimate of 8.5%, leaving China with a trade surplus of USD31.1 billion.
Chinese policymakers are set to meet this weekend to discuss reform initiatives, but the Aussie will remain in play in the coming days because China delivers inflation and retail sales data. October inflation is expected to have climbed to an 18-month high.
Chinese policymakers meet this weekend in what is known as the plenum to construct investors hope will be significant economic reforms.
Australia's S&P/ASX 200 lost 0.6% despite the encouraging China data, indicating investors are looking to see more domestic improvement than export growth out of Australia. China is Australia's largest export partner.
New Zealand’s NZSE 50 added 0.58% to be one of the regional standouts.
Later Friday, the U.S. is set to deliver the University of Michigan is to release the preliminary reading of its consumer sentiment index, while the Labor Department will release its report on nonfarm payrolls and the unemployment rate.
South Korea’s Kospi lost 0.84% amid concerns the Federal Reserve is closer to tapering its quantitative easing program.
Singapore’s Straits Times Index fell 0.48% while S&P 500 futures rose 0.19% a day after the benchmark U.S. index plunged 1.32%.
In Asian trading Friday, Japan’s Nikkei dropped 1.32%. Japanese stocks were dragged lower, in part, by weakness in electronics giant Sony. The broader Topix was also noticeably weaker.
Hong Kong’s Hang Seng slipped 0.63% while the Shanghai Composite lost 1.06% after China’s Customs Administration said exports there jumped 5.6% last month, easily topping expectations calling for growth of 3.2%. Imports rose 7.6%, below the estimate of 8.5%, leaving China with a trade surplus of USD31.1 billion.
Chinese policymakers are set to meet this weekend to discuss reform initiatives, but the Aussie will remain in play in the coming days because China delivers inflation and retail sales data. October inflation is expected to have climbed to an 18-month high.
Chinese policymakers meet this weekend in what is known as the plenum to construct investors hope will be significant economic reforms.
Australia's S&P/ASX 200 lost 0.6% despite the encouraging China data, indicating investors are looking to see more domestic improvement than export growth out of Australia. China is Australia's largest export partner.
New Zealand’s NZSE 50 added 0.58% to be one of the regional standouts.
Later Friday, the U.S. is set to deliver the University of Michigan is to release the preliminary reading of its consumer sentiment index, while the Labor Department will release its report on nonfarm payrolls and the unemployment rate.
South Korea’s Kospi lost 0.84% amid concerns the Federal Reserve is closer to tapering its quantitative easing program.
Singapore’s Straits Times Index fell 0.48% while S&P 500 futures rose 0.19% a day after the benchmark U.S. index plunged 1.32%.