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Asian markets end mostly higher on Tuesday

08 May 2018 Evaluate

Asian equity markets ended mostly higher on Tuesday as Chinese trade data topped forecasts and investors awaited an announcement by US President Donald Trump on whether he would withdraw from a landmark nuclear deal with Iran. Chinese shares ended higher after the release of upbeat trade figures for April. Chinese exports climbed 12.9 percent year-over-year in April, well above the expected rise of 6.8 percent. Imports surged 21.5 percent from a year ago, exceeding economists' forecast for a growth of 15.9 percent. The trade surplus totaled $28.8 billion in April versus the expected surplus of $25.7 billion. Besides, Japanese shares ended modestly higher, as banking stocks rallied while Takeda Pharmaceutical climbed ahead of news the drugmaker had agreed to buy London-listed Shire for $62.42 billion. Furthermore, Hong Kong shares ended higher, as fears of a full-blown trade war eased on reports that talks between Washington and Beijing will continue.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,161.50

24.85

0.79

Hang Seng

30,402.81

408.55

1.36

Jakarta Composite

5,774.72

-110.38

-1.88

KLSE Composite

1,846.51

18.31

1.00

Nikkei 225

22,508.69

41.53

0.18

Straits Times

3,543.17

10.31

0.29

KOSPI Composite

2,449.81

-11.57

-0.47

Taiwan Weighted

10,691.38

86.47

0.82

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