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
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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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