Investors Digest Trade Data, Hong Kong Plunges

Hong Kong’s Hang Seng index tumbled over 2%, leading losses in the region as investors further digested China’s trade data that included a decline in imports of 1.4% and a slowed growth in exports of 8.5%.

In Japan, the Nikkei 225 recovered 292.94 points, or 1%, to 29,242.82, buoyed by basic materials and energy stocks. Japan saw a decline in household spending in April despite economists surveyed by Reuters expecting to see growth.

In Hong Kong, the Hang Seng tumbled 429.45 points, or 2.1%, to 19,867.58. Hong Kong-listed healthcare and basic materials stocks lead the declines as Asia-Pacific markets traded mixed on Monday.

Australian markets fell back ahead of the nation’s annual Federal Budget announcement, with watchers widely expecting to see the first budget surplus since the 2008 financial crisis.


In China, the CSI 300 index backtracked 34.78 points, or 0.9%, to 4,027.88, after marking the highest point in 10 months on Monday

In other markets

In Singapore, the Straits Times index docked 14.71 points, or 0.5%, to 3,242.95.

In Korea, the Kospi removed 3.15 points, or 0.1%, to 2,510.06.

In Taiwan, the Taiex index gained 28.13 points, or 0.2%, to 15,727.70.

In New Zealand, the NZX 50 fell 52.88 points, or 0.4%, to 11,889.61.

In Australia, the ASX 200 dropped 12.41 points, or 0.1%, to 7,264.08.