Seoul - Asian stocks were lower on Thursday as weak China export data disappointed investors and renewed concerns about the health of the world's second-largest economy.
Japan's Nikkei 225 dipped 0.4% to 16 774.26 points, while South Korea's Kospi fell 0.7% to 2 019.43. Hong Kong's Hang Seng index retreated 1.5% to 23 064.15 and China's Shanghai Composite Index inched down 0.1% to 3 055.01. Stocks in Australia, Taiwan and Southeast Asia were lower. Thai stocks fell 1.1% amid reports that its long-time king is gravely ill.
"China's exports weakened last month on the back of subdued external demand. At the same time, import growth returned to negative territory, raising questions over the strength of the recent recovery in domestic demand," said Julian Evans-Pritchard, an economist at Capital Economics.
"This could be an early sign that the recent recovery in economic activity is losing momentum."
Data showed that China's exports last month fell 10% over a year earlier in the US dollar terms, compared with a 2.8% fall in August. The drop was wider than expected. Analysts forecast a fall of 3.3%.
Imports also dropped 1.9% last month, after a 1.5% gain in August, due to lower shipments of key commodities such as iron ore and copper.
US stocks finished slightly higher on Wednesday. The Dow Jones industrial average edged up 15.54 points to 18 144.20. The Standard & Poor's 500 index added 2.45 points to 2 139.18, while the Nasdaq composite slipped 7.77 points to 5 239.02.
Benchmark US crude oil slid 45 cents to $49.73 per barrel in New York. The contract closed 61 cents lower at $50.18 on Wednesday. Brent crude, the international standard, fell 39 cents to $51.42 a barrel in London.
The dollar fell to ¥103.67 from ¥104.29. The euro rose to $1.1036 from $1.1014.
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