Asian stocks show mixed results on Thursday as data on China's trade are disappointing investors who were hoping for signs of global economic recovery, and the likelihood of rate increases by the Federal Reserve this year is growing.
During the trading session, S&P/ASX 200 fell 0.71%, Shanghai Composite rose 0.20%, while Nikkei 225 fell 0.39%.
China's trade surplus was $ 41.99 billion in September, although it was expected that it would be $ 53 billion.
The volume of bank lending in Japan rose in September by 2.2% year on year, while it was expected to grow by 2.0%.
In Australia, the inflation expectations of MI rose to 3.7% from 3.3%. Increasing inflation expectations should reassure the Reserve Bank of Australia, as they affect the wages and pricing, although inflation has been volatile in recent months.
Yesterday, the US stocks showed mixed results, with the best results coming from the utilities, telecommunications and consumer goods sectors, and the worst results – from the health care, as well as oil and gas and commodity sectors.
At the close of the New York Stock Exchange, Dow Jones Industrial Average rose 0.09%, S&P 500 rose 0.11% and NASDAQ Composite slipped 0.15%.
The expectations about rate hikes this year have intensified after the minutes of the FOMC meeting of the Federal Reserve showed that the three members of the committee, who were in favor of a rate hike during the last meeting, may soon receive the necessary support. According to the report, the meeting noted that there is are reasonable arguments in favor of a rate hike, as well as in favor of more waiting to check additional data.
"Some members have decided that it is appropriate to raise the rate relatively soon, if the economic changes will occur as the committee expects", - is written in the minutes of the meeting, which took place on 20-21 September.