13.10.201500:28:29UTC+00Asian stocks lose ground on dull Chinese trade data

A weak Chinese trade data reduced the strength of Asian shares as it dived from a seven-week peak, indicating China's economic slowdown is affecting its trading partners.

Official figures showed China's exports dropped 3.7% in dollar terms, while imports declined 20.4% in September from a year earlier.

The MSCI Asia Pacific Index slid 1% in Tokyo. Japan's Topix lost 0.9% on its first day of trading this week. Hong Kong's Hang Seng Index dropped back 0.5%. The Shanghai Composite Index fell 0.3%.

The weakening Chinese economy will continue to influence the market. Equities marked a significant lift “on speculation the Fed will delay raising rates,” said Tim Schroeders, Portfolio Manager at Pengana Capital Ltd.