Asia Hikes on China Trade Data

Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data.

Markets in Japan returned Tuesday after a long weekend, with the Nikkei 225 zooming 195.59 points, or 1%, to 20,555.29.

The Japanese yen, considered a safe-haven asset, fetched 108.61 to the U.S. dollar.

In Hong Kong, the Hang Seng Index jumped 531.96 points, or 2%, to 26,830.29

Australian markets recovered Tuesday what they’d lost Monday, as the heavily-weighted financial sub-index added 0.7% while the energy and materials sectors also posted gains.

Meanwhile, the Australian dollar traded at $0.7216 U.S., climbing from an earlier low of $0.7188.

The British pound traded at $1.2885 U.S., climbing from levels below $1.2740 in the previous week. Sterling will be a focus for investors as lawmakers vote on U.K. Prime Minister Theresa May’s Brexit deal to leave the European Union.

The vote is widely expected to be defeated in parliament Tuesday, but could potentially still trigger a violent market reaction, according to some analysts.

In other markets

In Shanghai, the CSI 300 gained 60.21 points, or 2%, to 3,127.99

In Singapore, the Straits Times Index advanced 38.84 points, or 1.2%, to 3,212.30

In Korea, the Kospi index recovered 32.66 points, or 1.6%, to 2,097.18

In Taiwan, the Taiex index regrouped 97.82 points, or 1%, to 9,806.04

In New Zealand, the NZX 50 dipped 3.97 points to 8,964.58

In Australia, the ASX 200 heightened 41.19 points, or 0.7%, to 5,814.56