Investing.com - Asian shares fell on Thursday as trade data out of China disappointed investors hoping for signs of a rebound in global economic fortunes and as prospects for a 2016 rate hike by the Fed appear to be gathering pace.
The S&P/ASX 200 dropped 0.94%, while the Shanghai Composite eased 0.16%. The Nikkei 225 fell 0.80%.
China's trade balance showed a surplus of $41.99 billion in data released Thursday, far narrower than the $53.00 billion expected for September data.
In Japan, bank lending lending for September rose 2.2%, more than the expected gain of 2.0% year-on-year.
Earlier, MI inflation expectations on Australia rose to 3.7% from 3.3%. A rise in inflation expectations would comfort the RBA because of its impact on wage and price-setting behavior, though the price survey has shown volatility in recent months.
U.S. stocks were mixed after the close on Wednesday, as gains in the Utilities, Telecoms and Consumer Goods sectors led shares higher while losses in the Healthcare, Oil & Gas and Basic Materials sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average gained 0.09%, while the S&P 500 index gained 0.11%, and the NASDAQ Composite index lost 0.15%.
Support for a rate hike this year rose as three members of the Federal Open Market Committee meeting who dissented at the last meeting may soon have the needed support for such a move, the minutes of the latest meeting showed Wednesday, with members noting a reasonable case could be made on both sides of the argument -- to increase rates or to wait for additional evidence on progress towards goals.
"Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded about as the Committee expected," the minutes of the Sept. 20-21 meeting said.