China trade, Singapore GDP Taylor Swift boost

China’s exports fell far short of expectations in March, recording a 7.5% fall year on year.

This was far more than the 2.3% decline expected by economists polled by Reuters, and a reversal from the 7.1% year-on-year gain in the combined first two months of the year.

Total trade in the world’s second-largest economy also slid 5.1% year-on-year to $500.8 billion. China’s trade surplus shrunk more than expected to $58.55 billion, compared to the $70.2 billion expected in the Reuters poll.

— Lim Hui Jie