Asia-Pacific markets are trading mixed as the region looks to China’s May trade data and a speech from Reserve Bank of Australia governor Philip Lowe, a day after Australia’s central bank defied expectations and raised its benchmark interest rate to its highest in 11 years.
In Japan, the Nikkei 225 fell back from the highs of previous days, losing 593.04 points, or 1.8%, to 31,913.74, leading losses in the region and snapping a four day winning streak.
Shares of Sony led gains and fell 1.95%, followed by Tokyo Electron, Keyence Corp, and Daikin Industries.
The reverse in gains after Japanese stocks marked a new three decade high in previous sessions. The Japanese yen strengthened 0.2% to 139.36 against the U.S. dollar.
In Hong Kong, the Hang Seng jumped 152.72 points, or 0.8%, to 19,252.
South Korea’s markets came back from a public holiday all higher, with the Kospi climbing marginally to reach its highest level in about a year.
Australian markets experienced their second straight day of losses, as Australia’s gross domestic product grew 2.3% in the first quarter of the year, the slowest rate of growth in 1½ years.
CHINA
In China, the CSI 300 index slipped 18.82 points, or 0.5%, to 3,789.43.
China’s trade data missed forecasts, customs data showed. Exports tumbled 7.5% year-on-year, sharply lower than the 0.4% fall expected, while imports saw a smaller fall of 4.5% year-on-year, compared to an 8% fall that was forecast. The country’s trade surplus in May was $65.81 billion, down 16.1%.
In other markets
Korean markets returned to trading after a day off, with the Kospi eking higher 0.19 points to 2,615.50
In Taiwan, the Taiex index gained 160.82 points, or 1%, to 16,922.48.
In Singapore, the Straits Times index dished off 10.53 points, or 0.3%, to 3,179.58.
In New Zealand, the NZX 50 dumped 122.95 points, or 1%, to 11,759.15
In Australia, the ASX 200 fell 11.65 points, or 0.2%, to 7,117.99.
