Asian markets closed mostly in red on Monday, while Shanghai Composite clinched fresh seven-year peaks after more weak Chinese trade figures fuelled expectations of fresh stimulus measures. China’s exports in May fell less than expected but a double-digit drop in imports will likely keep the pressure on Beijing for more stimulus to avert a sharper economic slowdown. China’s exporters have been struggling to cope with weak overseas demand, rising labor and currency costs, exacerbating downward pressure on the world’s second-largest economy. Exports in May fell 2.5% from a year earlier and imports slid 17.6%. That, left the country with a near record trade surplus of $59.49 billion for the month. Japan’s economy expanded at an annualized pace of 3.9% in the first three months of this year, revised up from an initial estimate of 2.4% growth. On a quarter-on-quarter basis, gross domestic product rose a revised 1% in January-March, compared with a preliminary reading of a 0.6% increase. Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.6%, compared to the preceding quarter. Japan’s Economy Watchers Current Index fell to a seasonally adjusted 53.3, from 53.6 in the preceding month. Taiwanese Trade Balance rose to a seasonally adjusted annual rate of 5.42B, from 4.76B in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 5,131.88 108.79 2.17 Hang Seng 27,316.28 56.12 0.21 Jakarta Composite 5,014.99 -85.58 -1.68 KLSE Composite 1,739.45 -5.88 -0.34 Nikkei 225 20,457.19 -3.71 -0.02 Straits Times 3,320.33 -13.34 -0.40 KOSPI Composite 2,065.19 -2.91 -0.14 Taiwan Weighted 9,368.43 28.30 0.30