Market Commentary - Foreign Markets
Chinese stocks rally fades after weak trade data As on : 10-Dec-24  15:55

Asian stocks ended mixed on Tuesday after China's exports and imports both missed expectations in November, signaling growing trade challenges.

Gold ticked higher, the U.S Treasury 10-year yield fell one basis point to 4.19 percent and the dollar held steady ahead of key U.S. consumer and producer inflation readings due this week that will help shape the outlook for Federal Reserve monetary policy.

Oil prices fell slightly, retreating after recent gains driven by increased stimulus pledges from China and heightened tensions in the Middle East.

China's Shanghai Composite index jumped more than 3 percent at the open before giving up most gains to end up 0.59 percent at 3,422.66. Hong Kong's Hang Seng index reversed course to end half a percent lower at 20,311.28.

China's exports grew at a slower pace and imports posted an unexpected decline in November, official data revealed today.

Exports grew 6.7 percent annually in November, which was weaker than the 12.7 percent increase posted in October. Imports decreased 3.9 percent from a year ago compared to the 2.3 percent fall in October.

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