Weak Chinese trade data caps market gains

Asian markets experienced somewhat mixed results on Monday.

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By :  ,  Financial Analyst

Asian markets opened the new week with a somewhat mixed start on Monday (February 9th).

Weak trade data from China, the world's second largest economy, capped market gains across the region. The Hang Seng index was down 0.3 per cent at 24,594.45 but the Shanghai Composite grew by 1.1 per cent to 3,109.13.

There had been optimism across the markets after the US announced a boost in the jobs market with the country adding 257,000 jobs in the past month alone, marking the 11th consecutive month where over 200,000 jobs were created.

It was aided by a 3.3 per cent increase in exports for January on Sunday but imports dropped by a considerable 19.9 per cent, much worse than industry expectations.

Japan's Nikkei 225 was up 0.4 per cent at 17,711.93 while Australia's S&P/ASX 200 was down 0.1 per cent at 5,814.9.

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