Asian markets fall as China trade balance slips into deficit
Asian markets are taking a beating this morning after data showed an unexpected fall in Chinese exports in February, fuelling fears of a slowdown in the world's second largest economy.
The disappointing data from China dampened the optimism seen in the wake of Friday's better than expected US job numbers.
Investors are remaining cautious as the crisis in Ukraine shows no sign of an immediate resolution. Over the weekend there were further reports of the Russian military occupying buildings in Ukraine amid fears that Putin plans to move further into the troubled state.
Yesterday troops took control of a border post in western Crimea, while pictures of pro-Russian protestors taking over government buildings in Luganske in eastern-Ukraine circulated on social media.
The Nikkei is down one per cent while the Tokyo Stock Exchange Tokyo Price Index has fallen 0.8 per cent so far. The Hong Kong Hang Seng Index is down 1.6 per cent, while South Korea's Kospi is suffering a 1.1 per cent decline. The Shanghai Stock Exchange Composite Index is taking an even bigger hit of 1.9 per cent.