Chinese equities fell on Tuesday after disappointing trade data added to investors’ concerns that the country’s post-zero Covid recovery might prove less explosive than previously expected.
China’s CSI 300 fell 1.4 per cent and Hong Kong’s Hang Seng index lost 0.4 per cent after imports in January and February declined 10.2 per cent compared with the same period a year earlier. Exports fared better, falling just 6.8 per cent. Analysts had expected declines of 5.5 per cent and 9.4 per cent for imports and exports, respectively.
Investors in Europe looked ahead to testimony from US Federal Reserve chair Jay Powell to Congress later on Tuesday, when he is expected to provide guidance on the future path of interest rates.
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