Asian stock market news was somewhat dominated by the economic data points released by the Chinese economy. Asian markets saw a decline as China’s annual exports saw a drop for first time in 7 years. However, Japanese stocks limited the decline as the indexes saw record rally.
How the annual exports data impacted the Chinese indexes? Well, the impact was well-incorporated in the movement of indexes!
Asian stock market news
Hong Kong’s Hang Seng index saw a fall of ~0.61%, with mainland China’s CSI 300 dipping ~0.35% to sit at ~3,284.17 levels. This fall came as China’s consumer price index saw a decline of ~0.3%, less than ~0.4% drop which was expected by the experts and analysts. This data was also lower than ~0.5% decline which was seen in November month.
China’s exports for the month of December surpassed the expectations. However, overall, total trade fell in 2023 for second largest economy of the world. That being said, both indexes, Nikkei 225 and Topix , remained at their highest levels since the year 1990, as they have surged over past week.
Exports went up by ~2.3% year-on-year in the US dollar terms in last month, more than ~1.7% rise which was expected by analysts. Imports grew ~0.2% for the month of December from year earlier in the US dollar terms. This exhibits slightly less than ~0.3% rise anticipated by the analysts.
Nikkei saw a rise of ~1.5% to end at new 33-year high at ~35,577.11 levels, while broader Topix increased by ~0.46% to sit at ~2,494.23 levels.
Elsewhere, South Korea’s Kospi saw a decline of ~0.7% to close the session at ~2,525.05 levels. This showcases 8th straight losing session. Small-cap Kosdaq declined by ~1.64% to touch ~868.08 levels. In Australia, the ASX 200 saw a moderate fall of ~0.1% to end at ~7,498.3 levels.
US indexes ended on a flat note
Moving away from the Asian stock market news, the US indexes ended on a flat note as NASDAQ Composite saw a rise of ~0.02% to touch 14,972.76 and S&P 500 ended at ~4,783.83 levels, exhibiting a marginal rise of ~0.08%. However, Dow Jones Industrials Average closed at ~37,592.98, a fall of ~0.31%.
Bank of Japan didn’t move from its ultra-loose monetary policy last year, and kept its interest rates at -0.1%. Central bank of the country focused on unwinding its policy stance, as it feared that any sort of premature move might impact its recent moderate economic improvements.
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