Nikkei 225 rebounds, Aussie stocks drop on soft China data
|The Asian markets traded largely mixed on the final trading day of the week, with investors’ sentiment weighed down by softer Chinese exports and imports data and negative commodities’ prices.
The Japanese stocks ditched its Asian counterparts and staged a minor-rebound, as the Yen lost ground amid a solid recovery staged by the US dollar overnight. The USD/JPY pair now rises +0.34% to regain 115 handle. Retail sector and exporters’ stocks benefited the most from yen’s relative weakness.
While the Australian and Chinese equities felt the heat of disappointing Chinese trade figures, which brought China slowdown fears back in the spotlight. Also, a weaker close on the Wall Street overnight adds to the downbeat sentiment around most major Asian indices.
The Japanese benchmark, the Nikkei 225 index jumps +0.73% to 19,280. The Australian benchmark, ASX 200 index slumps nearly -1% to 5,710 points. Mainland Chinese markets trade modestly flat, with the Shanghai composite and Shenzhen’s CSI 300 trying hard to regain bids. Hong Kong's Hang Seng gains +0.66% to 22,980.
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