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Chinese stocks close little changed after mixed trade data
Shanghai Composite up 0.08% at 3,051 points (Il Sole 24 Ore Radiocor) - Shanghai , 07 Jun - Chinese stocks closed little changed after a two-day drop amid muted Asian markets.
Investors digested mixed trade data from the country, with exports rising much more than expected in May on strong industrial production and improving overseas demand, and imports growing at a slower-than-expected pace amid weak local demand and consumer spending.
In May, China's trade surplus was 82.62 billion dollars, up from 72.35 billion in April, according to the General Administration of Customs.
Economists surveyed by Wall Street Journal were expecting a 73.7 billion dollar surplus. Exports rose 7.6% from a year earlier in May, after rising 1.5% in April. Imports grew 1.8% year on year, down from an 8.4% increase in April.
Sentiment was dampened by reports that a group of US lawmakers pushed to ban Chinese battery firms with ties to Ford and Volkswagen from exporting to the US.
In mainland stock market dealings consumer and healthcare shares were among the biggest decliners, while real estate stocks rose.
The Shanghai Composite closed up 0.08% at 3,051 points while the Shenzhen CSI 300 closed down 0.50% at 3,574 points.
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(RADIOCOR) 07-06-24 11:24:35 (0256) 5 NNNN