Asian stocks experienced a rise as investors processed China’s economic data and awaited upcoming trade negotiations between Beijing and Washington. Chinese exports growth fell short of expectations in May, largely due to a significant decline in shipments to the U.S., despite a temporary trade truce that paused most tariffs for 90 days. Exports to the U.S. dropped by 34.5% year-over-year, marking the sharpest decline since February 2020. Imports from the U.S. also fell by over 18%, shrinking China’s trade surplus with the U.S. by 41.55% year-over-year to $18 billion. Overall exports increased by 4.8% last month in U.S. dollar terms compared to the previous year, slightly below expectations. Imports plunged by 3.4% in May, reflecting sluggish domestic demand. Meanwhile, the Japanese economy contracted at a slower pace than expected in Q1 2025, with GDP falling at an annualized rate of 0.2%. Market participants are closely monitoring the Bank of Japan’s monetary policy stance. In South Korea, the Kosdaq index rose by 0.73%, reaching its highest level since February, with gains across sectors including Hyundai Motor, Lotte Shopping, and SK Inc.
— new from CNBC
