FXStreet (Mumbai) – The stocks on the Asian bourses rebound this Wednesday after a mixed session seen in yesterday as markets cheer the surprisingly stronger China’s trade figures, which further underpinned the persisting risk-on moods.
The trade surplus expanded from 343.10 billion yuan in November to 382.05 billion yuan in December. Exports rose 2.3% y/y last month, against a 4.1% decline forecast by markets. Imports were down 4%, versus -7.9% expected.
The Chinese markets are much calmer today, extending their recovery mode for the second straight session after yesterday’s Central bank’s intervention in the offshore markets and also on fourth consecutive day of a stronger yuan. The benchmark, the Shanghai Composite index is now advancing 1.03% versus 0.60% at open, Shenzhen’s CSI 300 index jumps +1.15%. While Hong Kong’s Hang Seng rallies sharply to 20,160, +2.24% on the day.
Among other Asian indices, the Japanese indices are leading the Asian rebound, reversing Tuesday’s steep losses. The Australian stocks join the global rally amid upbeat Chinese trade figures and the recovery seen in oil and copper prices, which boosts the energy and resource stocks. Meanwhile, the Nikkei 225 spikes +2.68% to 17,682 and the S&P/ASX 200 index jumps 1.19% to 4,983.
(Market News Provided by FXstreet)