A general view of the container terminal in Qianwan of Qingdao Port, a port in Shandong Province, China, March 17, 2023.
CFOTO | Future Publishing | Getty Images
Asia-Pacific markets traded largely lower ahead of China’s April trade data release as well as U.S. inflation reports later this week.
China is projected to record a trade surplus of $74.3 billion, lower than the $88.2 billion in March, according to a Reuters poll.
In Australia, the S&P/ASX 200 fell 0.35% and South Korea’s Kospi was 0.32% down, with the Kosdaq also shedding 1.33%.
Mainland Chinese markets reversed their losses on Tuesday, with the Shenzhen Component 0.28% higher and the Shanghai Composite up 0.17%.
Hong Kong’s Hang Seng index dropped 0.37%, while the Hang Seng Tech index slid 0.88%.
Japan’s the only outlier in the region, with the Nikkei 225 up 0.77% and the Topix 0.97% higher, powered by gains in basic materials and energy stocks. Japan saw a reduction in household spending in April despite economists surveyed by Reuters expecting to see growth.
