Asian stocks mostly close higher, after Chinese exports and payroll

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Stocks in Asia and the Pacific closed mostly higher on Monday (8), as investors digested the latest figures on the Chinese trade balance and the US labor market.

Japan’s Nikkei index rose 0.26% in Tokyo to 28,249.24 points, while South Korea’s Kospi showed a slight gain of 0.09% in Seoul, at 2,493.10 points.

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In mainland China, trading was also positive: the Shanghai Composite rose 0.31% to 3,236.93 points, and the less comprehensive Shenzhen Composite gained 0.79% to 2,183.22 points.

The dominance of risk appetite came after China reported stronger-than-expected exports over the weekend.

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Before that, on Friday (5), the US employment report – the so-called payroll – exceeded expectations, reinforcing bets that US interest rates will continue to advance at an aggressive pace, but also weakening the assessment that the largest economy in world would be in recession.

Some Asian markets, however, were in the red. Hong Kong’s Hang Seng dropped 0.77% to 20,045.77 points, pressured by technology stocks, and Taiwanese Taiex slipped 0.10% to 15,020.41 points as China decided to extend military exercises in surroundings of Taiwan, still in reaction to the recent visit of the Speaker of the US House of Representatives, Nancy Pelosi, to the island.

In Oceania, the Australian stock market was close to stability, with a marginal increase of 0.07% from the S&P/ASX 200 in Sydney, 7,020.60 points.

With information from Dow Jones Newswires and Associated Press

Source: CNN Brasil

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