Friday, 14 October 2016

Markets fall with Chinese exports

Markets fell on Thursday.

The S&P 500 fell 0.3 percent, the STOXX Europe 600 fell 0.9 percent and the US 10-year Treasury yield fell three basis points to 1.74 percent on concerns over possible slower global growth after the release of weak Chinese trade data.

A report from China on Thursday showed that exports fell 5.6 percent in September from a year earlier while imports rose 2.2 percent.

Julian Evans-Pritchard, a China economist at Capital Economics, said in a note on Thursday that this “could be an early sign that the recent recovery in economic activity is losing momentum”.

Mainland Chinese markets shrugged off the trade data though. The Shanghai Composite rose 0.09 percent while the Shenzhen composite rose 0.24 percent. However, the Hang Seng Index fell 1.27 percent.

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