China reported its exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs of a slowing of its economic recovery following the lifting in December of anti-virus controls that disrupted travel and commerce.The decline in exports was the first year-on-year drop in in three months, with export volumes falling below their levels at the start of the year.
In Seoul, the Kospi was nearly unchanged at 2,615.60, while Australia's S&P/ASX 200 edged 0.2% lower to 7,118.00. Shares rose in Taiwan but fell in Bangkok. Gitlab soared 31.2% after the software development platform gave a revenue forecast for the fiscal year that topped analysts' expectations. Some of Tuesday's strongest action was in the cryptocurrency world after the Securities and Exchange Commission charged Coinbase with operating its trading platform as an unregistered national securities exchange, broker and clearing agency.
A day earlier, the SEC filed 13 charges against another huge crypto trading platform, Binance, and its founder. Binance said it had been in discussions to reach a negotiated settlement to resolve the SEC's investigations.