by Martin Armstrong
Armstrong Economics
Weaker than expected trade data ($32.59bn v Expected $50.15bn) from China saw equities open around 3% down, but that created the day’s low and the market steadied from that point. The Shanghai spent much of the day struggling to recover but recover it did and closed up on the day +0.1%. In Japan, Consumer Confidence fell to 40.1 from a previous 42.5. Stock prices hit their lows just ahead of lunch but spent the rest of the afternoon session rallying from those lows. Eventually, the Nikkei closed down 0.7% on the day with the HSI painting a similar picture.