Connect with us
Asian Equities Appreciate as Investors Digest Chinese Trade Data Asian Equities Appreciate as Investors Digest Chinese Trade Data


Asian Equities Appreciate as Investors Digest Chinese Trade Data



By Investors Hub

Asian stocks ended mostly higher on Friday as positive U.S. data and optimism over a potential U.S.-China trade deal helped offset growth worries to some extent.

Chinese trade data proved to be a mixed bag, with exports rebounding to a five-month high, while imports fell more than expected.

China’s Shanghai Composite Index finished marginally lower at 3,188.63, but Hong Kong’s Hang Seng index edged up 0.2 percent to 29,909.76.

Official data showed that Chinese exports surged up 14.2 percent in March from a year earlier, beating analysts’ expectations and marking the strongest growth in five months.

Imports dropped an annual 7.6 percent, worse than analysts’ forecasts for a 1.3 percent drop and widening from February’s 5.2 percent slump.

Japanese shares a hit four-month high as investors braced for earnings and an upcoming 10-day holiday in the country.

The Nikkei 225 Index closed up 159.18 points or 0.7 percent at 21,870.56, its highest level since December 5. The broader Topix ended marginally lower at 1,605.40.

Heavyweight Fast Retailing jumped 7.9 percent. SoftBank Group advanced 4.9 percent after Uber Technologies filed for its initial public offering in the U.S. SoftBank is Uber’s biggest investor.

Panasonic added 2.8 percent. The Nikkei business review reported that Panasonic and electric car company Tesla have frozen a plan to boost capacity of the Gigafactory 1 battery plant in Nevada due to weak demand for the vehicles.

Toshiba Corp lost 2.7 percent after the Japanese conglomerate said that China’s ENN Ecological Holdings Co. has scrapped an agreement to take over Toshiba’s U.S. liquefied natural gas business.

Australian markets finished notably higher as higher iron ore prices lifted mining stocks. The benchmark S&P/ASX 200 Index climbed 52.60 points or 0.9 percent to 6,251.30 and the broader All Ordinaries Index ended up 52.90 points or 0.8 percent at 6,347.

Miners BHP, Rio Tinto and Fortescue Metals Group ended narrowly mixed, while the big four banks jumped 1-2 percent.

Gold miner Evolution tumbled 3 percent after gold prices fell more than 1 percent on robust economic data from the United States. Energy stocks ended broadly higher despite a sharp drop in crude oil prices overnight.

Seoul stocks closed higher as Chinese exports data topped forecasts. The benchmark Kospi rose 9.01 points or 0.4 percent to 2,233.45 despite a summit between Seoul and Washington failing to reach an agreement on economic sanctions on Pyongyang.

Market heavyweight Samsung Electronics rallied 1.3 percent on expectations that falling memory chip prices will bottom out soon. Korean Air jumped 7.6 percent on restructuring news. Asiana Airlines shares soared 29.3 percent.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

Click to comment

Leave a Reply

The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.

Like Our Facebook Page

Latest News on Business Post


%d bloggers like this: