China’s May Trade Data Largely Beats Forecasts as Exports Surge 16.9%

China’s trade data in May beat forecasts by a large amount after the authority started to relax Covid-19 restrictions in major cities.

Exports in May expanded 16.9% YoY vs 8% expected and also a huge jump from 3.9% in April.

Imports grew 4.1% YoY vs 2% expected and also improved from a flat growth in April.

Trade balance in May was $78.76 billion vs $58 billion expected and $51.12 billion in April.


However, major stock markets in Asia still traded mostly lower on Thursday.

As of 10:29 local time in Thailand on June 9, 2022, Nikkei rose 0.16%, SSEC dipped 0.32%, Hang Seng Index dropped 0.24%, ASX 200 slipped 0.87% while IDX Composite increased 0.64%.

Thailand’s SET Index opened at 1,637.89 points, increased 1 point or 0.06%, then climbed nearly 4 points or 0.24% to 1,640.81 points, half an hour after the opening bell.