Asia Mixed as China Forecast Misses Targets

Shares in Asia-Pacific were mixed on Monday as investors reacted to Chinese trade data for May.

In Japan, the Nikkei 225 improved 77.72 points, or 0.3%, to 29,019.24.

The Japanese yen traded at 109.55 per U.S. dollar, after strengthening late last week from above 110.1 against the greenback.

In Hong Kong, the Hang Seng fell 130.82 points, or 0.5%, to 28,787.28.

In other developments, finance ministers from the Group of Seven over the weekend backed a U.S. proposal that calls for firms globally to pay at least 15% tax on earnings.

The Australian dollar changed hands at $0.7734, after climbing from levels below $0.768 late last week.

CHINA

In Shanghai, the CSI 300 slipped 4.65 points, or 0.1%, to 5,277.63.

China’s exports in dollar terms rose 27.9% in May as compared with a year earlier, according to customs data released Monday. That was lower than forecasts by analysts in a Reuters poll for a 32.1% year-on-year jump in exports.

In other markets

Markets in New Zealand were closed for holiday.

In Singapore, the Straits Times Index recovered 24.77 points, or 0.8%, to 3,175.81

The Kospi index in Korea picked up 12.04 points, or 0.4%, to 3,252.12

In Taiwan, the Taiex index tumbled 63.5 points, or 0.4%, to 17,083.91

In Australia, the ASX 200 retreated 13.46 points, or 0.2%, to 7,281.89.