Investing.com - Asian stocks slipped Monday as investors worries about global economic health roiled markets.
Australia's S&P/ASX 200 was down 0.6% to 5155.20, extending the index's loss to more than 9% from its early September peak for the year. Korea's KOSPI was down 0.9% to 1923.67.
Markets in Japan are to remain closed for a national holiday. China's trade balance showed September exports up 15.3%, above the 11.8% expected and imports increased 7.0%, above the 2.7% decline seen while the trade balance was a surplus of $31 billion, lower than the $41 billion forecast.
Last week, the dollar gained ground against most of the other major currencies amid fears over global growth, but the dollar index snapped a 12-week winning streak.
Federal Reserve Vice Chairman Stanley Fischer acknowledged Saturday that the Fed will have a global economic and financial impact when it starts to raise interest rates, but said clear communication should prevent any great surprises on global markets.
And Fischer said the Fed will delay rate hikes until there is clear evidence that the U.S. economy has "advanced far enough" to make progress on its employment and inflation goals.
Last week, U.S. stocks tumbled on Friday, with the Dow Jones giving back 2014's gains amid a tech sell off and concerns a global slowdown will water down U.S. earnings.
The Dow 30 fell 0.69%, the S&P 500 index fell 1.15%, while the NASDAQ Composite index plummeted 2.33%.
In the U.S. on Friday, data revealed that import prices fell 0.5% in September from August, better than market calls for a 0.7% contraction, though still a decline nonetheless, a sign a stronger dollar and a softer global economy could hurt U.S. businesses with overseas exposure.
In the week ahead, investors will be awaiting U.S. data on retail sales and industrial production for fresh indications on the strength of the economic recovery.
Tuesday’s ZEW report on German economic sentiment will also be closely watched.
Markets in Canada are to remain closed for the Thanksgiving holiday, while U.S. markets will be closed for Columbus Day.