The Asian market plummeted as investors are unnerved by disappointing Chinese trade and inflation data. China’s trade balance surprisingly turned to deficit in February. The deficit of US$ 25B (compared with consensus of a surplus of US$ 7.5B) was driven by strong import growth of 10.1% y/y, compared with market expectations of 7.6%, and a 18.1% decline in exports.
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China Trade Turns from Surplus to Deficit, CPI Surprised to the Downside
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