Low March export figures see stocks fall

China stocks fell on Friday as lower-than-expected export figures in March rekindled worries over economic recovery.

The benchmark Shanghai Composite Index fell 0.66 percent to 3,159 points. 

China’s exports in March dropped 2.7 percent, down from 24.4 percent growth in January and February, and weaker than Reuters’ estimate of 10 percent.

“Chinese exporters may have front-loaded their exports in the first two months of this year due to rising concerns over the possibility of a Sino-US trade war,” Nomura said in a research note today.

Gold producers retreated from earlier gains, with Zhongjin Gold Mining Co losing 2.70 percent and Shandong Gold Mining Co down 2.75 percent.

Fonder Securities said in a research report today that the previous rebound was due to technical reasons and improvement in the liquidity situation, but lower-than-expected export data dragged down performance. 

The index still faces pressure in the near future, the report added.

Some gains were made, though, among coal producers. Shanxi Antai Group Co advanced 2.99 percent, and Anyuan Coal Industry Group Co surged 9.85 percent to 2.90 yuan.