SHANGHAI :
Chinese Stocks Recovered Most of Early Losses on Impressive Trade Data
Tang Shihua
DATE:  Apr 12 2019
/ SOURCE:  yicai

(Yicai Global) April 12   -- China's mainland stock markets corrected most of today's losses in  the last 30 minutes of trading, after the government released strong  trade data for the first quarter.

The Shanghai Composite  Index closed 0.04 percent down at 3,183.63 points, after losing more  than 0.6 percent earlier in the afternoon. The Shenzhen Component Index  fell 0.3 percent to 10,132.34. The ChiNext Index, which tracks growth  enterprises in Shenzhen, fared the best, as it rose 0.3 percent to  1,695.73. The bourses logged light trading volumes.

The major indexes overcame  early slumps to move back to the positive territory as the market  sentiment improved on the back of new trade data, which attracted  bargain-hunters to leave the sidelines and start buying. In  the first quarter, China's trade surplus increased 71 percent from a  year ago to reach USD76.3 billion, according to China's customs.  Double-digit growth in exports in March is the main reason behind the  rally. 

Investor confidence was  hit hard after the government announced consumer and producer price  indexes for March yesterday, causing major stock benchmarks to dip yesterday. A rise in inflation could prompt regulators to refrain  from implementing more accommodating fiscal and monetary policies. 

The National  Bureau of Statistics is scheduled to release the gross domestic product  growth data for the first quarter on April 17. 

Editor: Emmi Laine 

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Keywords:   stock market,Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index