Asia markets mixed as data shows Japan’s exports recovered in October; autos slip
Asia-Pacific markets were mixed in early Wednesday trade — investors remained cautious as coronavirus cases continued to surge despite vaccine hopes.
Meanwhile, the U.S. dollar continued its slide.
In Japan, the Nikkei 225 fell 0.82%, while the Topix dropped nearly 1%. Japanese exports in October did much better than expected, falling 0.2%, according to the Ministry of Finance. That’s compared to a 4.5% decline forecast by economists in a Reuters poll. It followed a 4.9% drop in September.
Automakers — one of the country’s key exports — fell across the board in the morning. Mitsubishi Motor dropped more than 5%, while Honda declined 3.31%. Subaru dropped 2.57%.
SoftBank shares slipped 0.55% in the morning. Its CEO Masayoshi Son said he aggressively sold assets this year to prepare for a “worst case scenario” in which the world shuts down in a second wave of coronavirus outbreaks.
In South Korea, the Kospi edged up 0.15%. Australia’s S&P/ASX 200 rose 0.51%.
Reference: CNBC
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