AAL

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

Mar 8, 2016 at 8:36 AM
facebook X logo linkedin


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%. 


160308OS

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.