Asian shares mixed as China reports faster growth in trade
Asian shares mixed as China reports faster growth in trade.
An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries.
- China’s exports rose 9.9% from a year earlier to $239.8 billion in September, while imports gained 13.2% to $202.8 billion. Tuesday’s customs data showed exports to the United States rose 20.5% to $44 billion despite higher U.S. tariffs, while imports of American goods rose 24.5% to $13.2 billion.
- Tokyo’s Nikkei 225 index edged 0.2% higher to 23,601.78, while the Shanghai Composite index slipped 0.1% to 3,355.72. South Korea’s Kospi was almost unchanged at 2,402.91. Shares were mixed in Southeast Asia.
- India’s Sensex picked up 0.2% to 40,681.15.
- Australia’s S&P/ASX 200 climbed 1% to 6,195.70, led by gains in banks’ shares. Strong Chinese demand is good news for Australian exporters, though unconfirmed reports that Beijing is slowing or halting imports of Australian coal have raised concerns over the economic impact of political friction between the two countries
- In energy dealings, U.S. benchmark crude gained 37 cents to $39.80 per barrel in electronic trading on the New York Mercantile Exchange. It lost $1.17 to $39.43 per barrel on Monday.
- Brent crude also added 37 cents, to $42.09 per barrel.
- The U.S. dollar strengthened to 105.37 Japanese yen from 105.34 yen.
- The euro weakened to $1.1799 from $1.1896.