Asian equities trade mixed following last Friday’s weak close after US NFP, which missed exp. but was strong enough to keep Sept. viable for Fed rate lift off. Shanghai Comp (+3.2%) led gains in the region as weak trade figures added to calls for further measures to support the economy. Nikkei 225 (+0.1%) pared losses amid strong earnings from index heavyweight KDDI (+4%), while ASX 200 (+0.3%) was underpinned by strength in financials after big-4 NAB reported a 9% increase in profits.
Chinese Trade Balance (CNY) (Jul) M/M 263bln vs Exp. 353.11bln (Prev. 284.2bln)
- Exports (Jul) Y/Y -8.9% vs Exp. -1.5% (Prev. 2.1%)
- Imports (Jul) Y/Y -8.6% vs Exp. -6.6% (Prev. -6.7%). (Xinhua)
Chinese CPI for July rose by the fastest pace YTD with prices rising 1.6% Y/Y and 0.3% M/M basis, while PPI fell by 5.4% Y/Y, according to the National Bureau of Statistics. (China Economic Net)