Asian stocks mixed after Chinese trade contracts
BEIJING (AP) — Asian stocks were mixed Monday after China's trade contracted in April and U.S. job growth came in weaker than expected.
Chinese trade shrank in a sign of weak global and domestic demand despite government stimulus efforts.
Disappointing jobs data fueled speculation the Federal Reserve might keep interest rates low for another year.
The government said China's foreign currency reserves, the world's biggest, rose $6.4 billion in April to just over $3.2 trillion, the second straight monthly increase.
Investors were watching to see if voters side with the front runner in elections Monday, a foul-mouthed mayor who has pledged to wipe out corruption.
Rodrigo Duterte's blunt comments resonate with some voters but have sparked alarm about electing someone with no national political experience and a tendency to make inflammatory remarks.