Stock market today: Asian stocks mixed as Wall St inches toward bull market
Shares are mixed in Asia after a listless day on Wall Street amid a vacuum of market-moving data
BANGKOK (AP) — Asian shares were mixed Wednesday after a day of listless trading on Wall Street in the absence of market-moving data.
China reported its exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs of a slowing of its economic recovery following the lifting in December of anti-virus controls that disrupted travel and commerce.
The decline in exports was the first year-on-year drop in three months, with export volumes falling below their levels at the start of the year. “And with the worst yet to come for many developed economies, we think exports will decline further before bottoming out later this year,” Julian Evans-Pritchard of Capital Economics said in a commentary.
The Shanghai Composite Index lost 0.1% to 3,192.41 while the Hang Seng in Hong Kong gained 0.7% to 19,232.94.
