Asian equity markets ended mostly higher on Friday amid easing trade tensions after US Treasury Secretary Steven Mnuchin said the US could reopen trade talks if Beijing was milling to make serious efforts to make structural changes. Better-than-expected Chinese exports data also offered some support. Japanese shares ended higher as the dollar hit a fresh six-month high against the yen and heavyweight Fast Retailing posted record Q3 profit on the back of brisk sales at its overseas Uniqlo stores. Though, Chinese shares ended lower after data showed China's trade surplus with the United States swelled to a record in June, adding to fears the US may increase tariffs on Chinese products. Reports showed that Chinese exports climbed 11.3 percent year-over-year in dollar terms in June, faster than the expected rise of 9.5 percent. Imports advanced 14.1 percent from a year ago, well below economists' forecast for a growth of 21.3 percent. The trade surplus totaled $41.61 billion in the month versus the expected surplus of $27.72 billion.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,831.55 | -6.11 | -0.22 |
Hang Seng | 28,525.44 | 44.61 | 0.16 |
Jakarta Composite | 5,944.07 | 36.20 | 0.61 |
KLSE Composite | 1,721.93 | 18.36 | 1.08 |
Nikkei 225 | 22,597.35 | 409.39 | 1.81 |
Straits Times | 3,260.35 | 7.34 | 0.23 |
KOSPI Composite | 2,310.90 | 25.84 | 1.12 |
Taiwan Weighted | 10,864.54 | 126.16 | 1.16 |
