(MENAFN- ProactiveInvestors - Australia) Shanghai Index stocks climbed 2.08 per cent in mid afternoon trading on Wednesday, paradoxically as China's trade surplus fell 14.0 percent in June as imports and exports both dropped unexpectedly, data showed today.
The Shanghai Composite Index was up 42.02 points to 2005.42.
Exports slipped 3.1 percent to $174.32 billion, according to figures from Customs, while imports were down 0.7 percent at $147.19 billion, leaving a trade surplus of $27.13 billion.
The first three months of this year saw expansion of just 7.7 percent, disappointing analysts who had expected growth to accelerate after showing strength at the end of 2012.
The government has set a growth target for 2013 of 7.5 percent, the same as last year's, as it looks to retool its economic model from exports to domestic consumption.
China is due to announce gross domestic product figures for the second quarter on Monday.
If the data is less than ebullient, the average "guessimate" is around the 7.5 per cent GDP growth mark for the quarter - and misses this by a margin, it is more likely the central bank will take measures to support growth.
Or so the theory goes. Here is another one. The central bank elects not to provide stimuli in order to effect structural change underway.
Either way, volatility should continue.
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