SINGAPORE – Asia Pacific stocks were mixed in Monday trading as investors reacted to Chinese May trading data.
Mainland stocks were lower through Monday afternoon, with the Shanghai composite falling 0.21% while the Shenzhen component was down 0.673%. Hong Kong’s Hang Seng index fell 0.77%.
China’s exports in dollar terms rose 27.9% year over year in May, according to customs data released on Monday. That was lower than the forecasts by analysts in a Reuters poll for an export increase of 32.1% over the previous year.
The Japanese Nikkei 225 gained 0.45% and the Topix index 0.19%. South Korea’s Kospi gained 0.3%.
In Australia, the S & P / ASX 200 lost 0.11%.
MSCI’s broadest index for Asia Pacific stocks outside of Japan was down 0.18%.
In other developments, the Group of Seven Treasury Ministers supported a US proposal over the weekend requiring companies around the world to pay at least 15% tax on profits.
The markets in Malaysia and New Zealand are closed on Mondays for public holidays.
Currencies and oil
The US dollar index, which tracks the greenback versus a basket of its competitors, hit 90.168 after falling over 90.4 recently.
The Japanese yen was trading at 109.54 per dollar after rising above 110.1 against the greenback late last week. The Australian dollar changed hands at $ 0.7732 after rising from below $ 0.768 late last week.
Oil prices were lower on the afternoon of Asian trading hours, with international benchmark Brent crude futures falling 0.54% to $ 71.50 a barrel. US crude oil futures lost 0.4% to $ 69.34 a barrel.