- Chinese shares have reversed back into the red despite a surprise jump in the nation's trade surplus.
- In yuan-denominated terms: December exports rose 2.3%, while imports dipped 4%. In U.S. dollar terms: Exports fell 1.4% from a year earlier, while imports dropped 7.6%, widening the December trade balance to $60B (and the full-year tally to $595B).
- Separately, the cost of borrowing renminbi plunged today in Hong Kong, suggesting China backed off from intervening in the currency markets after eliminating the gap between its onshore and offshore exchange rates.
- Shanghai -2.4% to 2,950.
- ETFs: FXI, ASHR, EWH, CAF, YINN, KWEB, PGJ, GXC, FXP, HAO, YANG, TAO, CHIX, CHN, PEK, CHIQ, CQQQ, MCHI, TDF, QQQC, XPP, YAO, GCH, ASHS, YXI, CN, CXSE, FCA, CNXT, CHNA, CHII, CHIE, ECNS, EWHS, CHIM, KBA, KFYP, FCHI, JFC, FHK, AFTY, XINA, CHAD, ASHX, CHAU