Chinese Falling Exports Put Aussie, Kiwi Dollars on Back Foot

The currencies of Australia and New Zealand retreated following gains of at least 1 percent Friday, after disappointing trade data in China deepened concern that demand for commodities will weaken in their biggest export market. Australia’s dollar had the steepest decline among major currencies against the greenback on Monday, after reports in China over the weekend showed exports shrank five times more than economists estimated and...

Gold slips as upbeat US jobs data keeps door open to Sept Fed hike

Gold opened the week down on Monday, trading close to a 5-1/2-year low, as the U.S. dollar firmed after solid U.S. job gains in July suggested the Federal Reserve could raise interest rates as early as next month. Spot gold had dropped 0.2 percent to $1,090.25 an ounce by 0041 GMT. The metal fell for a seventh week in a row last week, its longest such retreat since 1999, having struggled to pull away from a 5-1/2-year trough of $1,077...

China Stocks Rise as Merger Speculation Offsets Economic Data

China’s stocks climbed for a second day as speculation the government will accelerate mergers among state-owned enterprises overshadowed worse-than expected economic data. The Shanghai Composite Index climbed 1.8 percent to 3,812.02 at 10:13 a.m. local time. China is considering combining China Shipping Group and Cosco Group, its two major shipping companies, according to people familiar with the matter. Producer prices fell in July...

China Stock Futures Rise on Prospects for SOE Reform, Stimulus

China’s stock-index futures rose on prospects for mergers in the shipping industry and as weak economic data bolstered speculation the government will add to stimulus. Futures on the CSI 300 Index expiring in August gained 1.3 percent to 3,903 as of 9:17 a.m. local time. China is considering a merger of China Shipping Group and COSCO Group, its two major shipping companies, according to people familiar with the matter. Producer prices...

Japanese Topix Falls First Time in Nine Days Amid Weak China Data

Japanese stocks fell, with the Topix index heading for its first loss in nine days, as weaker-than-expected Chinese economic data weighed on investor demand for firms that rely on China for sales. The Topix index slipped 0.3 percent to 1,673.44 as of 9:01 a.m. in Tokyo, falling for the first time since July 28, as all but five of its 33 industry groups declined. The Nikkei 225 Stock Average dropped 0.5 percent to 20,624.01. China at...