Global Markets Roundup | China's lower than expected exports leads to sell-off in Asian markets

This morning, South Korean stocks fell over 2 per cent, leading losses in the wider Asia-Pacific as trade data posted by China showed exports lowered more than expected while imports ticked up. Investors are also awaiting a rate decision by the reserve bank of Australia.

South Korea’s kospi erased Monday’s gains when the index posted its best session since late march 2020 after the country re-imposed a ban on short selling.

In Japan, the nikkei 225 slipped in its first hour of trade and extended those losses.

Overnight in the U.S., all three indexes eked out narrow gains to build on last week’s strong rally. The Nasdaq composite jumped to finish higher, notching its longest positive streak since January.

Oil prices eased, giving up most of the gains from the previous day, on concerns over weak demand in China.

Gold eased as investors cautiously turned back to riskier assets, and positioned for a host of federal reserve speakers this week including Jerome Powell for clarity on U.S. rate cuts.

Risk appetite is a bit better and there have been no major surprise developments from the Israel-Hammas war, and this is taking away a little bit of the safe-haven bidding for gold and silver.

Remember, bullion gained over 7 per cent in October as the West Asia conflict boosted safe-haven demand.

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