Overseas Trading: China Stocks Sink on Exports

Lackluster exports data pressured stocks in China, while the World Bank's downwardly revised global growth estimate weighs on European markets

Jun 8, 2016 at 8:31 AM
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Stocks in Asia ended the day mixed, amid a slew of economic data. Japan's Nikkei led the way higher, adding 0.9%, boosted by a weaker yen and an upwardly revised first-quarter gross domestic product (GDP). South Korea's Kospi added 0.8%, as it was revealed the Bank of Korea will create a $9.5 billion fund to support a pair of state-run banks.

On the other side of the ledger, China's Shanghai Composite slipped 0.3%, following a sharper-than-forecast decline in May exports. Meanwhile, Hong Kong's Hang Seng dipped 0.1%, snapping a four-session win streak.

European markets are lower across the board, as Chinese export data stirs concerns about the health of the global economy. Adding to the anxiety, the World Bank slashed its full-year global growth estimate to 2.4% from 2.9%, expressing several concerns -- including slow growth rates in advanced economies and low commodity prices. At last check, the French CAC 40 is off 0.3%, Germany's DAX is down 0.2%, and London's FTSE 100 is just a hair south of breakeven.

overseas trading june 8

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