Japanese exports sink 10.3%.

Japanese exports slumped 10.3% on year in September vs consensus of -9.6% for the biggest drop since May 2011. Imports rose 4.1%, beating expectations, but the country recorded a trade deficit of ¥558.6B, its first September shortfall since 1979. Exports to China plummeted 14.1% as the East China Sea islands row took its toll, while sales to the EU collapsed 21.1%. U.S. exports rose 0.9%, but that was way down from +10.3% in August.