China’s July trade surplus $80.6 bln (expected surplus of $70.6 bln; last surplus of $70.6 bln). July Imports -12.4% yr/yr (expected -5.0%; last -6.8%) and Exports -14.5% yr/yr (expected -12.5%; last -12.4%)
China reported a bigger than expected trade surplus for July, but imports contracted at their fastest pace in over two years, implying weakening domestic demand.
Property names in Hong Kong saw renewed weakness with the Hang Seng Mainland Properties Index giving back most of its remaining gains from July after Country Garden acknowledged that usable cash levels have been declining steadily.
Real wages in Japan decreased for the 15th consecutive month in June.