Asian markets end mostly higher

Asian markets ended mostly in the green terrain on Monday as sentiments remained up-beat after government data out of China showed that the Chinese trade surplus rose to a record $49.83 billion in August from $47.30 billion in July. Exports rose at a bigger than expected 9.4 percent annual pace, while imports unexpectedly fell. Meanwhile, Japanese Nikkei edged higher by around quarter a percent, benefited from the yen’s weakness, which was subdued against a firmer dollar. The greenback has been stronger in recent weeks in reaction to rate normalization expectations. On the economic front, Japan recorded a trade surplus of 416.7 billion yen in July compared to a deficit of 399.1 billion yen in June. Exports rose 8 percent year-over-year, outpacing the import growth rate at 7.6 percent. Though, revised second quarter GDP released by Japan’s Cabinet Office showed a downwardly revised 7.1 percent year-over-year drop compared to the 7 percent decline estimated earlier. On an annualized quarterly basis, GDP was down 1.8 percent, downwardly revised from preliminary estimate of the 1.7 percent drop.

Nikkei 225 was by 36.23 points or 0.23% to 15,705.11, FTSE Bursa Malaysia KLCI increased by 2.63 points or 0.14% to 1,871.09 and Jakarta Composite was up by 29.15 points or 0.56% to 5,246.48. On the flip side Straits Times was declined 6.54 points or 0.20% to 3,335.19, and Hang Seng was down by 49.70 points or 0.20% to 25,190.45.

Stock markets of China, South Korea and Taiwan remained shut for the trade today.