Stocks in South Korea and Asia falter as traders analyze China trade data and RBA rate hike, while Wall Street eyes Fed speakers.
South Korean stocks fell 3% as investors analyzed China's trade data and the Reserve Bank of Australia's rate hike. China reported a worse-than-expected drop in exports in October, while imports surprisingly rose. South Korea's Kospi slipped 2%, with energy and manufacturing stocks dragging the index down. Cryptocurrencies rose after ether reached $1,900 for the first time since July. BCA Research predicts that the Federal Reserve is done raising rates and expects a recession to begin in the first half of next year.