China released its latest batch of trade data on Monday which showed that foreign demand remains healthy, domestic demand appears subdued. Exports in August jumped 9.4 percent from the year-ago period, beating estimates for an 8 percent gain and following the 14.5 percent rise in the month before.
But imports fell an annual 2.4 percent, versus expectations of a 1.7 percent increase and after a decline of 1.6 percent in July. This brought August trade surplus to a new record high of $49.8 billion, topping a Reuters poll expecting $40 billion and surpassing July’s peak of $47.3 billion.
Asian markets were little changed from where they were trading before the trade data. The Australian dollar was trading flat against the greenback. “Slower import growth reflects cooling investment, particularly in the property sector, which has weighed on commodity demand,” said Julian Evans-Pritchard, chief economist at Capital Economics.