Asian markets trade mostly higher on positive cues from US markets

Buoyed by supportive cues from US markets, most of the Asian markets are trading in the green. Chinese benchmark Shanghai Composite edged higher by about half a percent on the back of better-than-expected Chinese trade data. The nation’s exports rose 14.1 percent in December from a year earlier compared to  a markets expectation of closer to 4 percent while imports gained 6 percent indicating stronger domestic demand. Moreover, Japanese benchmark Nikkei stock average extended gains to about a percent as the yen resumed its weakening trend after a pause in the last couple of sessions.

Shanghai Composite rose 10.48 points or 0.46% to 2,285.82, Hang Seng surged 200.99 points or 0.87% to 23,419.46, Nikkei 225 soared 98.87 points or 0.93% to 10,677.44, Straits Times increased 12.94 points or 0.40% to 3,233.35, KOSPI Composite added 12.31 points or 0.62% to 2,004.12 and Taiwan Weighted was up by 74.96 points or 0.97% to 7,813.60.

Jakarta Composite declined 7.64 points or 0.18% to 4,355.29 and KLSE Composite was down by 0.75 points or 0.04% to 1,689.18.