Asian shares mixed on Japan’s weaker trade data
Asian shares were mixed Thursday after Japan reported weaker than expected trade data for June, with imports falling nearly 13 per cent from a year earlier.
Tokyo Asian shares were mixed Thursday after Japan reported weaker than expected trade data for June, with imports falling nearly 13 per cent from a year earlier.
Shares rose in Sydney and Hong Kong but fell in Shanghai, Tokyo and Seoul. US futures slipped and oil prices were little changed. Japan logged a trade surplus in June for the first time in nearly two years as imports sank, largely due to lower oil prices. Exports rose only 1.5 per cent from a year earlier despite sharp increases in shipments of vehicles as supply chain problems eased. Economists say they anticipate weaker exports in coming months as demand in other major economies slows. Japan’s benchmark Nikkei 225 declined 1.2 per cent to 32,490.52. Australia’s S&P/ASX 200 added less than 0.1 per cent to 7,326.00. South Korea’s Kospi edged down by 0.1 per cent to 2,604.61.