Shares in Asia head north with Tokyo gains on trade data
On Monday, shares in Asia headed north with Tokyo up after better than expected trade data as well as a weaker yen as market participants looked ahead to a BOJ’s policy review at the end of the week.
The Nikkei 225 earned 0.38% after the adjusted trade balance kicked in at a surplus of about ¥33 billion, better than the ¥24 billion observed and imports tumbled 18.8%, less than the 19.7% sag expected and exports descended 7.4%, less than the 11.6% dip observed. As for the overall trade balance, it came in at a surplus of approximately ¥693 billion, which is better than the ¥495 billion expected.
The S&P/ASX 200 soared 0.60%, while the Shanghai Composite managed to earn 0.33%.
The previous week, American stocks re-entered record territory on Friday, thus completing their fourth straight week of revenues, as decent performances by a pair of telecom giants, overshadowed losses from General Electric, following poorer quarterly earnings from the multinational conglomerate.
The Dow Jones Industrial Average soared 53.62 or 0.29%, hitting 18,570.85, while the S&P 500 Composite index rose 0.46%, trading at 2,175.03, as American equities stayed on pace for their strongest month since March.