Asian markets go down as investors priced in Chinese trade data for July

Asian stocks

Markets in Asia go down on Tuesday as investors looked at the Chinese trade data for the month of July during the session.

The Nikkei 225 of japan went down 0.30 percent while the Kospi index of South Korea went down by 0.10 percent, removing previous gains.

The S&P/ASX 200 Index of Australia went down 0.72 percent due to the losses suffered in the industrials (1.53 percent) and energy (1.38 percent) sub-indexes. The heavily weighted financials sub-index lost 0.66 percent.

The Hang Seng Index of Hong Kong turned its losses around and gained 0.12 percent while the Mainland’s Shanghai Composite went down 0.20 percent and the Shenzhen composite went down 0.183 percent.

According to Reuters, traders set their sights on the Chinese trade data for the month of July. Exports for July went up 7.2 percent in dollar terms as well as imports going up 11.0 percent in dollar terms. Expectations from analysts were a 10.9 increase in Chinese exports in July.

Korea Electric Power Corporation’s stock went up 1.14 percent after losing above 1.5 percent earlier in the session.

Stocks for Samsung Electronics disregarded news of Samsung Group Vice Chairman Jay Y. Lee’s charges of bribery of the former South Korean president, Park Geun-hye as it went up 0.55 percent.

On Monday, Japan’s SoftBank reported quarterly operating gains rose 50 percent on year to 479.2 billion yen or $4.33 billion U.S. dollars. Its stock lost 0.85 percent.


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