China’s CSI 300 Index (SHSZ300) advanced a 12th day, the longest streak ever, as the country reported a record trade surplus. Crude oil dropped toward a five-year low while emerging-market currencies were weaker against the dollar after a U.S. payrolls report beat all estimates.
The CSI 300 climbed 2.3 percent by 11:47 a.m. in Tokyo, as China’s exports exceeded imports by $54.47 billion. The MSCI Asia Pacific Index swung between gains and losses. Oil in the U.S. and London was down at least 1.1 percent, with West Texas Intermediate crude headed for its lowest close since July 2009. The greenback touched a more-than seven-year high of 121.85 yen and climbed against the currencies of New Zealand, Malaysia, Indonesia and South Korea.
Investors must consider risks while putting money into stocks, China’s securities regulator warned yesterday after a buying spree fueled a 21 percent rally in the Shanghai Composite Index over the past month, the most among 93 global indexes tracked by Bloomberg. BP Plc will cut jobs and freeze certain projects amid oil’s slump into a bear market, the Sunday Times reported, citing an interview with Chief Financial Officer Brian Gilvary. The 321,000 worker increase in U.S. nonfarm payrolls topped every economists’ projection.