Asia report: Most markets lower as China data disappoints

Markets in Asia were mostly lower on Monday, as investors reacted to a fresh release of disappointing data from China.

In Japan, markets remained closed for a public holiday, as the yen strengthened 0.28% against the dollar to last trade at JPY 108.18.

On the mainland, the Shanghai Composite lost 0.71% to 2,525.77, and the smaller, technology-heavy Shenzhen Composite fell 0.73% to 1,303.75.

Data out of Beijing showed a fall in both exports and imports in December, echoing market concerns that the ongoing trade war with the US was hurting the Chinese economy.

The country’s trade surplus with the US was 17% higher than it was a year ago - the highest growth rate since 2006, according to Reuters.

South Korea’s Kospi was down 0.53% at 2,064.52, while the Hang Seng Index in Hong Kong slid 1.38% to 26,298.33.

The technology sector was under pressure on the Korean peninsula, with Samsung Electronics down 1.11% and SK Hynix falling 4.61%.

Oil prices were lower, with Brent crude down 0.77% at $60.02 per barrel, and West Texas Intermediate off 0.88% at $51.14.

In Australia, the S&P/ASX 200 was 0.02% below the waterline at 5,773.40, with the energy subindex dragging the broader index lower as it fell 0.77%.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 went against the regional trend, to rose 0.1% to 8,968.55.

It was led higher by port operator Port of Tauranga, which was up 1.8%.

Both of the down under dollars were weaker on the greenback, with the Aussie last behind 0.3% at AUD 1.3901 and the Kiwi retreating 0.23% to NZD 1.4666.