Home World Hong Kong shares jump nearly 2% as China’s June exports beat forecasts

SINGAPORE — Shares in Asia-Pacific were mostly higher in Tuesday trade as investors reacted to the release of China’s trade data for June.

Hong Kong’s Hang Seng index led gains regionally as it jumped 1.85%. In mainland China, the Shanghai composite rose 0.22% while the Shenzhen component shed 0.206%.

China’s exports in June jumped 32.2% as compared with a year earlier, customs data showed Tuesday. That was much higher than a forecast by analysts in a Reuters poll for a 23.1% growth in exports for June.

The data also showed Chinese imports in June surging 36.7%. That compared against an estimate for imports to have increased 30%, according to Reuters.

The Nikkei 225 in Japan gained 0.78% while the Topix index advanced 0.77%. South Korea’s Kospi climbed 0.74%.

Shares in Australia advanced as the S&P/ASX 200 edged 0.23% higher.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 1.11% higher.

Stock picks and investing trends from CNBC Pro:

Overnight stateside, the major indexes on Wall Street rose to record closing highs.

The Dow Jones Industrial Average advanced 126.02 points to 34,996.18 while the S&P 500 gained about 0.35% to 4,384.63. The Nasdaq Composite climbed 0.21% to 14,733.24.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.149 as it struggled to return to levels above 92.7 seen last week.

The Japanese yen traded at 110.37 per dollar, still weaker than levels below 110 seen against the greenback last week. The Australian dollar changed hands at $0.75, above levels around $0.745 seen yesterday.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.23% to $75.33 per barrel. U.S. crude futures advanced 0.27% to $74.30 per barrel.

Source: CNBC

You may also like