Strong export numbers from China could boost markets

Frankfurt After three weeks of price gains, the Dax is facing an endurance test. “We’re in this honeymoon phase where corporate balance sheets, including those just released, are good and inflation seems to be slowing down,” said Christopher Grisanti, chief investment strategist at wealth manager MAI.

New export figures from China provided a positive surprise on Sunday. The People’s Republic was able to increase its exports in July by 18 percent compared to the same month last year to 333 billion dollars, as reported by Chinese customs. Experts had expected a smaller increase. In June, the increase was 17.9 percent. Imports grew much more slowly by 2.3 percent. Overall, China posted a record trade surplus of more than $101 billion.

“China’s export growth surprises again on the upside,” said Pinpoint’s chief economist, Zhiwei Zhang. “It will help the economy in a difficult year where domestic demand remains weak.” This could also boost Asian markets on Monday.