China Stocks Down Despite Strong Trade Data
China stocks slumped on Monday, with the Shanghai Composite down 0.3% to below 3,160 and the Shenzhen Component down 0.2% to 9,776. This marked a third straight week of losses, despite stronger than expected trade data. Exports jumped 10.7% year-on-year in December, far surpassing the 7.3% increase forecast. Imports also unexpectedly rose 1%, reversing a two-month contraction.
However, investor sentiment remained cautious as market participants awaited further policy announcements from Beijing. The country is grappling with slowing economic activity and persistent deflationary pressures, which have dampened broader market optimism. Significant declines were seen in Cambricon Technologies (-5.5%), Leo Group (-3.9%), and JCET Group (-3.2%), as investors reacted to broader market uncertainty. (AL)
Source: Trading Economics