Asia stocks were set to trade lower on Monday as China's exports declined in November for the fourth consecutive month, Reuters reported citing customs data.
China's overseas shipments dropped 1.1% year-on-year in November, below the 1.0% expansion expected by analysts in a Reuters poll. Imports, on the other hand, rose 0.3% as compared to a year earlier — exceeding projections for a 1.8% decline.
The latest print on Chinese trade comes as Beijing remains embroiled in a trade war with Washington. Both parties aim to reach a "phase one" trade deal that has remained elusive ahead of a closely-watched date of Dec. 15, when additional tariffs on Chinese exports to the U.S. are set to kick in.soaring 337.27 points to close at 28,015.06 on Friday — its best performance since Oct. 4.
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