Asian shares retreat on poor Japan trade data, China news

Shares retreated in Asia on Wednesday after Japan reported its worst monthly decline in exports in three years, putting pressure on the economy as growth slows following a sales tax hike.

Adding to regional jitters, the US Senate passed a resolution overnight to support human rights in Hong Kong after months of increasingly violent protests.

Japan’s Nikkei 225 index declined 0.7% to 23,119.59 after customs data showed the country’s exports falling 9.2% in October from a year earlier, with sharp declines in shipments to China, South Korea and the US.

The tariff war between China and the US has stretched for over a year, hammering manufacturers and farmers on both sides and sapping demand for exporters in other Asian countries.

Japan’s exports to the US dipped 11% in October, including autos and auto parts, marking the third straight month of declines. And imports from the US fell 17%, the Finance Ministry said Wednesday.

Hong Kong’s Hang Seng dropped 0.7% to 26,916.85. The Shanghai Composite index declined 0.4% to 2,923.59.

Australia’s S&P ASX 200 fell 1.3% to 6,727.80 as energy and financial companies declined. Banks were hit by allegations by regulators that Westpac, a bank, is suspected of violating anti-money laundering laws.

Shares also fell in Taiwan and Southeast Asia.

On Wall Street, shares were mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

The S&P 500 index slipped less than 0.1% to 3,120.18 and the Dow Jones Industrial Average declined 0.4% to 27,934.02. The Nasdaq climbed 0.2% to 8,570.66.