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Jun 07, 2021

Asian markets end mostly higher on Chinese trade data amid caution before US inflation readings due later this week

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Asian markets ended mostly higher today, on Chinese trade data amid caution before US inflation readings due later this week. So Japan's Nikkei-225 index inched up 0.3 per cent; China's Shanghai Composite index gained 0.2 per cent; South Korea's Kospi index rose 0.4 per cent and Singapore's Straits Times index advanced 0.8 per cent. But Hong Kong's Hang Seng index fell 0.5 per cent.
In economic news, China’s exports grew by 27.9 per cent in May compared with a year earlier, weighed by disruptions caused by COVID-19 cases at major ports in the country’s south. Imports grew by 51.1 per cent last month, the fastest import growth since January 2011, fuelled by surging commodity prices.
In Europe, London's FTSE-100 had gained 0.2 per cent and Germany's DAX had traded marginally higher but France's CAC-40 had traded marginally lower, in intra-day trade.
Economic data showed, German industrial orders dropped unexpectedly in April on falling domestic demand as supply chain disruptions held back manufacturers. The Federal Statistics Offices of Germany said orders for industrial goods fell 0.2% in seasonally adjusted terms, the first drop this year after three successive increases.

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