Chinese stocks hit 3 month low despite strong June trade
Chinese stocks took a dip on Tuesday, reaching their lowest point in three months.
Even though trade numbers for June looked pretty strong, with stronger-than-expected June trade data, investors are feeling uneasy about slowing economic growth and tensions in the Middle East.
The CSI 300, Shanghai Composite, and Hang Seng Index all slipped, showing just how cautious the market is right now.
Markets await China GDP 4.5% forecast
Everyone's waiting for China's GDP report this Wednesday, and forecasts say growth has slowed to 4.5% from last quarter's 5%.
Global conflicts, like US strikes against Iran, and an upcoming mega IPO from Changxin Memory Technologies (CXMT) are also shaking things up.
Tech stocks have taken a hit, while energy shares are rising thanks to higher oil prices. Investors seem to be playing it safe until things settle down.