Asia-Pacific markets mostly traded lower after the U.S. Federal Reserve raised its benchmark interest rate by 50 basis points to the highest level in 15 years.
In Japan, the Nikkei 225 gave back 104.51 points, or 0.4%, to 28,051.70, as investors digest trade data from Japan and South Korea
Japan’s exports and imports for November grew more than expected on an annualized basis, official data showed.
Exports for the month rose 20%, beating expectations of 19.8% in a Reuters survey. Imports rose 30.3%, also higher than expectations of 27% in a Reuters poll.
This resulted in a wider-than-expected trade deficit of 2.02 trillion yen ($14.91 billion U.S.) after posting 2.16 trillion yen ($15.96 billion) in the previous month.
In Hong Kong, the Hang Seng stumbled 304.86 points, or 1.6%, to 19,368.59.
South Korea’s revised trade data for November was flat, official data from the Bank of Korea showed.
Imports grew by 2.7% while exports fell by 14%, in line with readings from the previous month, resulting in a trade deficit of $6.99 billion, slightly narrower than the previous month’s reading of $7.01 billion.
Prices for imports grew 14.2% compared with a year ago after seeing growth of 19.8% the previous month. Export prices grew 8.6% in November compared with a year ago, after growing 13.7% in October.
CHINA
In Shanghai, the CSI 300 settled 2.9 points, or 0.1%, to 3,951.99, as official data showed retail sales shrank far more than expected, while industrial production disappointed. China’s annual Central Economic Work Conference will reportedly be held behind doors for two days until Friday.
China’s industrial production for November grew 2.2%, after seeing a growth of 5% in October, according to official data. That’s lower than expectations for growth of 3.6% in a Reuters survey.
Retail sales fell 5.9% on an annualized basis, further than expectations of a decline of 3.7% in a Reuters survey and a fall of 0.5% the previous month.
In other markets
In Taiwan, the Taiex slipped 5.23 points to 14,734.13
In Korea, the Kospi index skidded 38.28 points, or 1.6%, to 2,360.97.
In Singapore, the Straits Times Index dipped 4.82 points, or 0.2%, to 3,273.75.
In Australia, the ASX 200 fell 46.52 points, or 0.6%, to 7,204.78
In New Zealand, the NZX 50 regained 46.52 points, or 0.6%, to 11,601.99.
