SINGAPORE — Asia-Pacific stocks were mixed in Thursday trade, with investors watching for market reaction to China’s trade data for May that performed above expectations.
China’s exports jumped 16.9% in May as compared with a year ago, Reuters reported Thursday. That bested expectations by analysts in a Reuters poll for a 8% rise.
Imports were also higher than expected, rising 4.1% against expectations for a 2% increase, according to Reuters.
Over in Australia, the S&P/ASX 200 dropped 0.85%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.42% lower.
The European Central Bank is also expected to signal a July rate hike at its policy meeting later on Thursday. In Asia-Pacific, the central banks of Australia and India both announced rate hikes earlier this week.
Overnight on Wall Street, the S&P 500 shed 1.08% to 4,115.77. The Dow Jones Industrial Average slipped 269.24 points, or 0.81%, to 32,910.90. The Nasdaq Composite shed 0.73% to 12,086.27.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 102.484 in a turbulent week that has seen it go from levels below 102 to around 102.8.