March 3, 2024

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Live updates, Australia, China trade, oil prices

Live updates, Australia, China trade, oil prices

An aerial view of a container ship leaving a shipyard in Qingdao, east China’s Shandong Province.

Future Publishing | Future Publishing | Getty Images

Asia-Pacific markets fell across the board, mirroring moves on Wall Street as investors weighed trade data from China and Australia.

China’s November trade numbers surprised expectations, with exports rising 0.5% and imports falling 0.6% year-on-year. Economists polled by Reuters expected a 1.1% year-on-year decline in exports and a 3.3% rise in imports.

The trade surplus of the second largest economy in the world also expanded to $68.39 billion, exceeding expectations of $58 billion.

Separately, oil prices rebounded slightly after reaching their lowest levels since June West Texas Intermediate The January contract rose 0.66%, trading at $69.82 per barrel.

the February Brent contract It also rose by 0.7% to trade at $74.88 per barrel.

in Australia, Standard & Poor’s/ASX 200 Trimming losses, it fell 0.07% and closed at 7,173.3 after the country’s trade surplus widened in October to A$7.13 billion, but missed a Reuters poll estimate of A$7.5 billion.

Japan Nikki 225 The Topix fell 1.76% to close at 32,858.31 after leading gains in Asia on Wednesday, while the Topix fell 1.14% to 2,359.91.

South Korea Cosby It fell 0.13% to close at 2,492.07, while the small-cap Kosdaq index closed 0.77% lower at 813.2.

Hong Kong’s Hang Seng fell 0.66%, trimming losses in its final hour, while China’s CSI 300 fell 0.24%, hitting a four-year low of 3,391.28.

Overnight in the US, all three major indexes fell on Wednesday as investors weighed data indicating lower inflation while awaiting the jobs report.

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the Dow Jones Industrial Average It lost 0.19%, while Standard & Poor’s 500 Precipitation 0.39% and Nasdaq Composite decreased by 0.58%

It was the third losing day for the 30-stock Dow Jones index and the S&P 500 — the first since October for both indexes.

— CNBC’s Lisa Kailay Hahn and Alex Haring contributed to this report.