News to trade on December 18
Find out the main market movers for today and the reasons behind the risk-off sentiment!
China June trade surpasses expectations as global demand is still strong
China posted better-than-expected trade data for June, thus suggesting the country’s economy is holding up well due to firmer global demand notwithstanding a struggling property market at home amid a financial crackdown, which has applied pressure to firms.
China's June exports tacked on 11.3% from last year, while imports surged 17.2%, both beating experts' expectations, as Thursday’s data revealed.
It left China with a trade surplus of about $42.77 billion for the month, as the General Administration of Customs reported.
Experts surveyed by Reuters had hoped for June shipments from the world's leading exporter to have ascended 8.7%, which is in line with the annual surge figure in May.
Imports were predicted to have soared 13.1%, easing from the suddenly strong 14.8% leap in May.
Experts were actually expecting China's trade surplus to have extended to approximately $42.44 billion in June from May's outcome of $40.81 billion.
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