Asian Stocks Higher after Announcement of Export and Import Data from China

Asian Stocks Higher after Announcement of Export and Import Data from China
Asian Stocks Higher after Announcement of Export and Import Data from China

Asian stocks are trading at a higher position after the announcements regarding the export and import data from China for the month of March.

The equities in the region are observed to be following the U.S. equivalents higher one day after an added strong performance for equities related to the U.S.

A closer look at the Asian trading session on Wednesday indicated that Japan’s Nikkei 225 is trading higher by 0.73%, while USD/JPY is observed to be trading just lower. Some traders anticipate it is only a duration of days before the pair reaches 100.

Hong Kong’s Hang Seng advanced 0.37% whereas the Shanghai Composite added 0.06% following statements from China’s Customs Administration that the exports for the country had increased 10% in the previous month, outdoing speculation from analysts for an increase of 10.5%. The data elaborated that the imports for China had advanced 14%, which was significantly higher than the consensus estimate of a rise of 5.2%, which positioned the second largest economy of the world with a trade deficit of a value of USD884 million in comparison with the surplus value of USD15.3 billion as seen in February.

S&P 500 futures slid 0.07%. Singapore’s Straits Times Index lowered 0.27% whereas South Korea’s Kospi advanced 0.80% regardless of unrelenting aggression from the north.

New Zealand’s NZSE 50 added 0.42% even though the currency pair NZD/USD was seen to be advancing above 85 cents for just the third time, seen in three decades. New Zealand stocks were clearly not affected significantly by the announcement of data related to China, who is reputed as the largest trading partner of New Zealand.

The slide in the Australia’s S&P/ASX 200 Index by 0.2% as a response to the China news was quite surprising. One of the world’s biggest mining company, BHP Billiton, was noted among the better performers in Australia.
The markets on Tuesday showed a rise in U.S. stocks, and at the finish of the U.S. trading, the Nasdaq Composite index increased 0.48%, Dow Jones Industrial Average closed 0.41%, and the S&P 500 index rose 0.35%.

European indices were seen to have closed largely at a higher position, and at the finish of the European trade, France’s CAC 40 increased 0.11%, EURO STOXX 50 advanced 0.23%, and Germany’s DAX 30 finished down 0.33%.