Asia-Pacific markets climbed higher on Tuesday, following gains on Wall Street, where both the S&P 500 and Nasdaq Composite rebounded from their worst week of the year.
Each index gained 1.16%, as investors showed renewed confidence in the market.
The focus in the region was on China’s trade data.
August exports surged 8.7% year-on-year, significantly exceeding the 6.5% forecast. Imports, however, edged up by just 0.5%, falling short of the expected 2%.
Despite this, China’s trade figures indicate resilience, with July’s data also showing strong growth—exports rose 7% while imports posted an unexpected 7.2% increase.
This demonstrates that China’s economy might still have room for recovery, surprising some analysts.
Traders are also closely watching India’s trade data for further insights.
In tech news, Apple’s recent event in Cupertino introduced the iPhone 16 Pro and Pro Max, adding to the already announced iPhone 16 and iPhone 16 Plus.
Pre-orders for these new devices will begin Friday, with an official release on September 20.
Shares of Apple’s suppliers saw mixed reactions. Hitachi and Taiwan Semiconductor Manufacturing Co. gained 1.6% and 0.56%, respectively, while Foxconn, also known as Hon Hai Precision Industry, dipped 0.87%.
Hong Kong’s Hang Seng index rose 0.3%, led by Alibaba, which surged more than 4% after being included in the Stock Connect scheme.
This program allows investors in mainland China and Hong Kong to trade stocks across the two regions, broadening business opportunities for both markets.
Meanwhile, Australia’s S&P/ASX 200 climbed 0.6%, Japan’s Nikkei 225 edged up 0.1%, and South Korea’s Kospi gained 0.04%.
However, South Korea’s small-cap Kosdaq index fell 0.4%. Mainland China’s CSI 300 slipped 0.39%.
In the U.S., the Dow Jones Industrial Average closed 1.2% higher, echoing the recovery of the S&P and Nasdaq after a turbulent week.
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