SHANGHAI – Asian Markets Rise After Encouraging Numbers From China. Asian markets moved upward on Tuesday after encouraging reports from China that the coronavirus pandemic may be reaching its peak.
According to details, positives news are coming from major Asian stock markets after this. The rise in Asian markets is due to a better-than-expected trade data of China for March. China’s customs data on Tuesday showed overseas shipments fell 6.6pc in March year-on-year, improving from a 17.2pc slide. As exporters rushed to clear a backlog of orders after forced government production shutdowns.
The Australian shares were up 0.6 percent. Meanwhile, South Korea’s KOSPI index and Japan’s Nikkei were both up 1.4pc and 1.4pc, respectively. The Hong Kong’s Hang Seng increased 0.2pc, and China’s Shanghai Composite (SHCOMP) rose 1.3pc, whereas, Taiwan index was up 1.9pc.
Analysts had forecast shipments to drop 14pc from a year earlier. Meanwhile, analysts say the export and overall growth outlook for China remains grim as the pandemic has brought business activity across the globe to a standstill.
Asian Markets Rise After Encouraging Numbers From China.