Those concerns sent MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS sliding 1 percent from Friday’s 1-1/2 month top for its biggest single-day percentage drop since Jan. 2, with Chinese and Hong Kong shares the worst hit.

·         China shares ended lower on Monday after weaker-than-expected monthly trade data spooked investors, reinforcing worries about an economic slowdown and lean global demand, but traders’ optimism around government moves to cut taxes curbed losses.

At the close, the Shanghai Composite index was down 0.71 percent at 2,535.77.

The blue-chip CSI300 index ended 0.87 percent lower, with its financial sector sub-index dropping 0.81 percent and the healthcare sub-index down 2.25percent.

“Today’s data reflect an end to export front-loading and the start of payback effects, while the global slowdown could also weigh on China’s exports,” analysts at Nomura said in a note.