Overseas Trading: Mining Stocks Slump on China's Weak Trade Data

European mining stocks are falling after Chinese exports fell by the largest margin in six years

by Josh Selway

Published on Mar 8, 2016 at 8:36 AM

Stocks in Asia closed mostly lower today. China's Shanghai Composite, however, overcame early losses and managed a 0.1% win -- its sixth in a row -- despite lackluster trade data. Specifically, Chinese exports fell by over 25% in February, notching their worst annual decline since 2009, while imports tumbled by a worse-than-expected 13.8%. Hong Kong's Hang Seng fell 0.7%, while South Korea's Kospi dropped 0.6%. In Japan, a strengthening yen weighed on some of the country's most prominent exporters, and the Nikkei gave back 0.8%. 

China's trade data is having an even bigger impact in Europe, with mining stocks suffering heavy losses -- and a sudden halt to their recent rally. One positive piece of data was Germany's industrial output, which surged higher in February. Still, Germany's DAX was last seen 0.3% lower, as was London's FTSE 100. France's CAC 40 was down 0.4%. 


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