Chinese shares open higher

Beijing, June 20 (IANS) Chinese stocks opened higher on Monday, with the benchmark Shanghai Composite Index up 0.09 per cent, at 2,887.64 points.

The smaller Shenzhen index opened 0.01 per cent higher at 10,183.77 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was down 0.23 per cent to open at 2,117.99 points.

Japan records $388 million trade deficit

Tokyo, June 20 (IANS) Japan recorded a 40.7 billion yen ($388 million) trade deficit in May, the first deficit since the beginning of 2016, the government said on Monday.

The latest figure contrasts with the 823.2 million yen ($7 million) surplus in April, EFE news reported.

Exports skidded 11.3 per cent year-on-year to 5.09 billion yen ($4 billion) in May, according to data released by the Ministry of Finance.

Imports dropped an annual of 13.18 per cent to 5.1 billion yen ($4 million).

By country, the deficit with China, Japan’s largest trading partner, rose 401.093 billion yen ($3 billion) in April, representing a 4 per cent year-on-year increase.

With its second largest trading partner, the US, Japan recorded a surplus of 345.63 billion yen ($3 billion), or 14.4 per cent less.

With the European Union, its third largest trading partner, Japan had a deficit of 73,642 million yen ($703 million), a 24 per cent rise compared to April 2015.

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