Gloomy China September trade data raises fears recovery may be faltering

BEIJING (Oct 13): China's September exports fell 10% from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.

The disappointing trade figures pointed to weaker demand both at home and aboard, and deepened concerns over the latest depreciation in China's yuan currency, which hit a fresh six-year low against a firming US dollar on Thursday.

"This comes on the heels of weak South Korean trade data, and it definitely make us worry about to what extent global demand is improving," said Luis Kujis, head of Asia economics at Oxford Economics in Hong Kong.

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