Plunging Chinese exports hit Asian stocks.

Chinese exports dropped 18.1% on year in February vs growth of 10.6% in January and consensus of +6.8%. However, the trend may have been distorted by the Lunar New Year holiday and fake invoicing that boosted the data a year earlier, while the severe winter weather in the U.S. may also have had an effect. Still, the data sent the Shanghai Composite tumbling 2.9% and helped drag other Asian indices lower.