Stocks edge down on data misses, Huawei arrest

China shares ended lower on Monday after lower import and export data for November, and as the arrest of a senior Huawei executive continued to feed worries that China and the US could escalate their trade war.

At the close, the Shanghai Composite index was down 0.82 percent at 2,584.58 points. The blue-chip CSI300 index was down 1.16 percent, with its financial sector sub-index lower by 1.2 percent. The smaller Shenzhen index ended down 1.41 percent and the start-up board ChiNext Composite index was weaker by 1.06 percent.

China reported weaker-than-expected November exports and imports, showing slower global and domestic demand and raising the possibility that authorities will take more measures to keep the country’s growth stable. Meanwhile, consumer inflation eased from the previous month due to lower food prices, according to data published by the National Bureau of Statistics.

Shares in Huawei suppliers continued to fall as worries deepened over Meng’s arrest. BYD Electronic International Co Ltd is down 3.2 percent and O-Film Tech is 4.1 percent lower.

In the main Shanghai Composite index, the biggest gains were seen by Eastern Communications Co Ltd, up 10.06 percent, while Wintime Energy Co Ltd saw the biggest loss on the Shanghai index, down 10.18 percent.

Global stocks extended their slump on Monday, with US equity futures and Asian shares sliding on worries over slowing growth and fears that a fresh flare-up in tensions between Washington and Beijing could quash chances of a trade deal.