Asian shares mostly lower on lackluster China, Japan data

Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected.

Shares fell in Tokyo, Shanghai, Hong Kong and Seoul but rose in Sydney.

Japan reported that its exports rose 26.2% in August from a year earlier, but that was well below forecasts for a rise of over 30%, Marcel Thieliant of Capital Economics said in a commentary.

Relative weakness in vehicle exports might reflect shortages of semiconductors and other components that have prompted some manufacturers to cut output, he noted.

China reported late Wednesday that its retail sales grew an anemic 2.5% in August, down from 8.5% in July, while factory output slowed to 5.3% from 6.4% the month before.

It was the slowest growth in output since May 2020.

“Yesterday's China data were a real shock," RaboResearch Global Economics & Markets said in a report. “This is hardly what one calls a robust consumer recovery," it said.

Adding to investors' unease, reports said major property developer Evergrande would fail to make interest payments due next week. Rating agencies have warned the cash-strapped company could default on its debt.

Its Hong Kong traded shares fell 7.8% on Thursday.

Tokyo's Nikkei 225 index dropped 0.7% to 30,295.97 while the Hang Seng in Hong Kong declined 1.9% to 24,560.34. The Shanghai Composite index gave up 0.9% to 3,623.06 and the Kospi in Seoul lost 0.5% to 3,136.73.

Australia's S&P/ASX 200 gained 0.7% to 7,465.90. Shares fell in Taiwan but rose in Singapore and Jakarta.

On Wednesday, energy and technology companies helped lift stocks on Wall Street broadly higher, reversing the market's pullback from a day earlier.

The S&P 500 rose 0.8% to 4,480.70 after another day of choppy trading. It was the biggest daily gain for the benchmark...