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Asian markets retreat after China trade data

2019-01-14 07:23 am | Resource: News | No Views : 162

Asian markets tumbled on Monday as China released its trade figures. According to official data, the country's trade surplus with the United States grew by 17 percent in 2018 compared to the previous year, rising to its highest point since 2006 to $ 323.3 billion.

At the same time, the total trade surplus fell to its lowest level since 2013 and reached $ 351.7 billion. Exports increased by 9.9% in 2018 while imports grew by 15.8%.

Pompeo: Working on the details of Trump, Peak K

Politically, US Secretary of State Mike Pompeo said details of a possible second summit between US President Donald Trump and North Korean leader Kim Jong-un were being worked out.

"We are working on details," Pompeo told CBS, without elaborating, following reports that the two leaders could meet this month or the next day and that Vietnam was a possible place.

Japanese media reported that Trump had proposed Vietnam in February, but Thailand was the site of another possible candidate.

China's auto sales slows

China's auto manufacturers' association expects the country's auto market to slow down in 2019, indicating that moderate economic expansion could affect the consumption of expensive goods, including automobiles. China,

The world's largest auto market, and many global automakers depend on massive sales in China to increase revenue and boost sales. According to data released by the association on Sunday, about 28 million cars will be sold in 2019,

Which is roughly the same as in 2018, according to the official Xinhua news agency. Commercial vehicle sales may rise 1% year-on-year to 4.4 million vehicles, the company said.

While sales of new power cars are expected to grow 33% year-on-year to 1.6 million.

Stock Indices Trading
  • The Nikkei 225 Index closed on a public holiday.
  • The Shanghai Composite Index fell 0.56% at 4:30 am CET.
  • While the Shenzhen Composite Index fell 0.77% at the same time.
  • Hong Kong's Hang Seng Index fell 1.57% at 4:30 am CET.
  • South Korea's Kospi Index fell 0.69% at 4:13 am.
  • The Australian Standard S & P 500 Index fell 0.48% at 4:34 am.

Meanwhile, the dollar fell 0.09% against the yen, to 108.39 at 8:04 am CET.

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