Charting the Markets: China Rebounds as Trade Data Disappoints
China is hogging the headlines once again, with trade data the latest evidence that the world's second-largest economy is slowing. Imports and exports dropped in August, highlighting tepid demand at home and abroad. Chinese stocks dropped as much as 2.2 percent, before rebounding in the last two hours of trading, suggesting state-backed support after four days of declines. The Shanghai Composite Index closed the session 2.9 percent higher. Asian stocks swung between a gain of 0.35 percent and a loss of 0.60 percent. The MSCI Asia Pacific Index slid to its lowest since November 2012 and is on track for an eighth weekly drop, the longest losing run in 23 years. U.S. equity futures are indicating a higher open after markets were closed on Monday for the Labor Day holiday.
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