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Japanese shares higher on trade data | Japanese shares higher on trade data |
(about 1 hour later) | |
Japanese shares headed higher on Monday after data showed the country's trade account fell into a deficit in April, but was still better than expected. | Japanese shares headed higher on Monday after data showed the country's trade account fell into a deficit in April, but was still better than expected. |
The deficit was 53.4bn yen ($440m; £283m) - lower than 825.5bn yen a year ago, and below expectations of 318.9bn yen. There was a surplus in March. | The deficit was 53.4bn yen ($440m; £283m) - lower than 825.5bn yen a year ago, and below expectations of 318.9bn yen. There was a surplus in March. |
Exports in the world's third largest economy rose 8% from a year ago - up for the eighth month - but imports fell nearly triple the forecast at 4.2%. | Exports in the world's third largest economy rose 8% from a year ago - up for the eighth month - but imports fell nearly triple the forecast at 4.2%. |
The Nikkei was up 0.6% to 20,387.26. | |
Investors were expecting the deficit, but sentiment was boosted by the fact that the shortfall was much lower than anticipated. | Investors were expecting the deficit, but sentiment was boosted by the fact that the shortfall was much lower than anticipated. |
Chinese shares were up with the Shanghai Composite 1% higher at 4,703.7 in early trade. | |
The Hong Kong market was closed for a public holiday. | |
In Australia, the S&P/ASX 200 was higher 0.9% to 5,715.5. | |
Shares of miner Sirius Resources jumped more than 20% after fellow miner Independence Group launched a $1.4bn (£904m) bid to take it over and create a diverse base metals and gold mining group. | |
Meanwhile, markets in South Korea were closed for Buddha's birthday holiday. | Meanwhile, markets in South Korea were closed for Buddha's birthday holiday. |