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According to preliminary data from Japan’s Finance Ministry, Japanese exports record a year-on-year drop of 3.8% in December 2018, the most substantial shrinkage since October 2016.

Exports to Asia countries dropped 6.9%, with those to China fell 7%. Meanwhile, exports to Hong Kong fell 17.3%.

Per FT, the fall in exports to Asia is mostly “driven by falls in exports of chipmaking machinery and communications equipment in the wake of the US-China trade dispute”.

Full data here.

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