Asian markets mixed as China's trade surplus beats expectations

Asian markets were mixed as China’s trade surplus beat expectations. Asia-Pacific markets were mixed as China’s trade surplus beat expectations and exports rose 8.5 percent. Investors will also be awaiting U.S. inflation reports this week. China reported a trade surplus of $90.2 billion, ahead of expectations for a balance of $71.6 billion. In mainland China, the Shanghai Composite Index added 0.3 percent to extend its winning streak after registering a 10-month high on Monday. The Shenzhen Composite Index also rose marginally. Australia’s S&P/ASX 200 fell 0.35 percent and South Korea’s Kospi fell 0.32 percent, while the Kosdaq fell 1.33 percent. Hong Kong’s Hang Seng index fell 0.37 percent, while the Hang Seng Tech index fell 0.88 percent. Japan was the only outlier in the region, with the Nikkei 225 up 0.77 percent and the Topix up 0.97 percent, supported by gains in basic materials and energy stocks. Japan saw household spending fall in April, even as economists expected growth. In the U.S., the Fed’s quarterly Senior Credit Officer Opinion survey showed that requirements for commercial and industrial loans have become tougher. The report showed that problems at mid-sized institutions have led banks to tighten standards for lending to households and businesses, potentially posing a threat to U.S. economic growth. Stocks were mixed, with the S&P 500 up marginally and the Nasdaq Composite up 0.18 percent. The Dow Jones Industrial Average fell 0.17 percent.