Asian stocks were mixed today (April 14th) due to profit-taking following recent gains in the region.
Trading was also affected by a lower session on Wall Street overnight due to worries that the strong US dollar could affect exporters' shares, as first-quarter earnings season officially today.
It was a choppy session today, especially in China, with the Shanghai Composite index switching between positive and negative territories before adding 0.3 per cent to a seven-year high of 4,135.57 at the close.
Investors focused on economic growth data on China, set to be released later in the week, after the publication of a string weak China economic data in the past few days.
"It's safe to say investors in China are positioning for some disappointing data and the weak trade balance suggests GDP could undershoot this week and risks slipping below the expected seven per cent," Stan Shamu, IG's market strategist, told CNBC.
Japan's benchmark Nikkei 225 edged up 0.02 per cent to finish at 19,908.68. Australia's S&P/ASX 200 was down 0.2 per cent to 5,946.60 and South Korea's Kospi gained 0.6 per cent to 2,111.72, while Hong Kong's Hang Seng closed 1.5 per cent down to 27,595.32.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.