Asian shares ended mixed Monday on the back of disappointing Chinese trade data released over the weekend.
Growth in China’s exports slowed more than expected in April as imports slid. Exports rose by 4.1 percent, while imports were down 5.7 percent, in local currency terms. This was the 18th consecutive month imports have declined.
Meanwhile, in other macroeconomic developments, a front-page story in the Chinese Communist Party mouthpiece People’s Daily published Monday warned that China’s debt build up could lead to instability in foreign exchange markets, the real estate market and stock markets.
Shanghai’s SSE fell 2.8 percent to end at 2,832. Tokyo’s Nikkei 225 rose 0.68 percent to finish at 16,216. Hong Kong’s Hang Seng inched up 0.23 percent to end at 20,157.
As for the day’s gainers, Fast Retailing rose 2.1 percent to 28,610 yen. Isetan Mitsukoshi gained 0.9 percent to 1,116 yen. Shiseido rose 0.63 percent to 2,379 yen. Chow Tai Fook rose 0.58 percent to 5.17 Hong Kong dollars.
It was a tougher day for Global Brands, which fell 1.1 percent to 0.890 Hong Kong dollars. Esprit slipped 0.44 percent to 6.72 Hong Kong dollars.