Arab Today, arab today asian markets hit by weak china trade data
Last Updated : GMT 03:14:05
Arab Today, arab today
Arab Today, arab today

Asian markets hit by weak China trade data

Arab Today, arab today

Arab Today, arab today Asian markets hit by weak China trade data

London - AFP

Asian markets mostly fell as weak Chinese trade data reinforced concerns of a slowdown in the world’s number two economy, while profit-taking after a week-long rally added to selling pressure. Wall Street provided a weak lead despite upbeat US jobs and trade data that indicated a positive outlook for the world’s number one economy. In the afternoon Hong Kong fell 0.82 percent while Shanghai shed just 0.10 percent as dealers expect the country’s leaders to loosen monetary policy soon. By the close of trade Tokyo fell 0.97 percent, or 87.16 points, to 8,891.44, Sydney shed 0.72 percent, or 30.9 points, to 4,277.3 but Seoul advanced 0.30 percent, or 5.81 points, to 1,946.40. China’s General Administration of Customs said exports grew just one percent in July year-on-year to $176.9 billion, while imports rose 4.7 percent to $151.8 billion, cutting the trade surplus to $25.1 billion from $31.7 billion in June. The data follow results on Thursday showing Chinese retail sales, industrial output and inflation eased in July, indicating the export-driven economy was feeling the effects of Europe’s debt crisis lowering demand in the key market. The figures will also add to calls for China’s leaders to further loosen monetary policy to kick start growth, which in the April-June quarter grew at its slowest pace since the height of the global crisis in 2008-2009. China has already this year taken the rare step of slashing interest rates twice in quick succession, while also lowering requirements for how much money banks must keep in reserve as it looks to spur lending. Profit-taking added to Friday’s losses after global markets rallied this week following European Central Bank comments that gave investors confidence it will restart its sovereign bond-buying programme soon to help countries such as Spain and Italy. There are also expectations the Federal Reserve will return to its asset-purchasing programme to spur the US economy. Optimism that the banks will step in saw Tokyo gain almost five percent over the past four sessions, while Hong Kong added more than three percent and Seoul was five percent higher. Wall Street also posted gains but its rally ran out of steam on Thursday, with the Dow and S&P 500 ending flat while the Nasdaq put on 0.25 percent, despite bright jobs and trade data. US weekly new jobless claims fell to 361,000, the Labor Department said Thursday, in another sign that the jobs market has some moderate strength despite the second-quarter lull in hiring. Meanwhile, the US trade deficit narrowed in June for the third straight month, with exports continuing to climb while imports eased. On currency markets the greenback was quoted at 78.56 yen in afternoon trade Friday, slightly up from 78.55 yen in New York late Thursday. The euro stood at $1.2294 and 96.60 yen, compared with $1.2301 and 96.62 yen. Oil prices were lower after the figures from China, the world’s biggest energy consumer. New York’s main contract, light sweet crude for delivery in September, retreated 36 cents to $93.00 a barrel while Brent North Sea crude for September delivery fell 36 cents to $112.86.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets hit by weak china trade data Arab Today, arab today asian markets hit by weak china trade data

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday