Shares were lower in Asia on Monday, extending the latest losses on Wall Street, as China reported a slowdown in exports.
Hong Kong’s Hang Seng index HSI, -1.46% lost 1.4% while the Shanghai CompositeSHCOMP, -0.56% fell 0.6%. The Kospi SEU, -0.70% in South Korea declined 0.7% and Australia’s S&P ASX 200 XJO, -0.02% gave up 0.3%. Shares also fell in Taiwan Y9999,-0.64% and Southeast Asia. Japan’s markets were closed for a holiday.
Among individual stocks, oil producer CNOOC 0883, -4.52% and tech giant Tencent 0700,-2.78% each fell in Hong Kong trading, chip maker SK Hynix000660, -4.30% tumbled in South Korea and Taiwan Semiconductor 2330, -1.13% slipped in Taiwan.
China said Monday that its exports to the U.S. contracted in December althoughits overall trade surplus with the U.S. hit a record $323 billion in 2018. Exports to the U.S. rose 11.3% to $478.4 billion for the year despite punitive tariffs imposed by President Donald Trump in a fight over Chinese technology ambitions.
The customs data showed imports of American goods rose just 0.7% over 2017, reflecting the impact of Beijing’s retaliatory tariffs and encouragement to importers to buy more from non-U.S. suppliers.