Japanese and South Korean shares fell Wednesday while stocks in Shanghai and Hong Kong rebounded in volatile trading after China reported an unexpected decline in exports.
In Japan, the Nikkei 225 fell 56.30 points, or 0.4%, to 14,416.60
Hong Kong’s Hang Seng Index zoomed 221.55 points, or 1.1%, to 20,904.56.
China is a major trading partner and an exports destination for a number of Asian countries.
Stock gains in Hong Kong were underpinned by Chinese banks Wednesday, while the property, financial and mining sectors led the advance in mainland stock markets.
The Hong Kong-traded shares of China Construction Bank Corp. and Bank of China Ltd. rose 1.9% and 2%, respectively.
Several energy shares gained as U.S. benchmark oil prices ended at their best level in 14 months.
Following those gains, Santos Ltd. climbed 1.8%, and Woodside Petroleum Ltd. rose 0.4% in Sydney, while PetroChina Co. added 1.6% in Hong Kong.
Australian miners rose after aluminum producer Alcoa Inc. played down concerns about a slowdown in China, and as gold prices rose for a second day.
BHP Billiton Ltd. and Rio Tinto Ltd. rose 0.7% each, and Alumina Ltd. rallied 3.9%.
The losses in Japan and South Korea came a day ahead of monetary-policy decisions by their respective central banks.
In Tokyo, some technology shares retreated after recent advances, with Trend Micro Inc. losing 1.2%, and Toshiba Corp. shedding 1.4%.
Gains for consumer and retail stocks supported the market, with Suntory Beverage & Food Ltd. rising 2.8%, and Asahi Group Holdings Ltd. climbing 2%.
Shares of retailer Aeon Co. gained 1.4% after reporting an increase in its quarterly profits
CHINA
China reported a 3.1% year-on-year drop in June exports and a 0.7% contraction in imports, against expectations of an increase
The Shanghai Shenzhen CSI 300 picked up 61.39 points, or 2.8%, to 2,224.06, on a wave of buying in beaten-down financial and property shares in the afternoon session.
In Shanghai, Poly Real Estate Group Co. jumped 5.4%, China Coal Energy Co. rose 3% and Citic Securities Co. advanced 3.3%.
In other markets;
Taiwan’s Taiex Index hiked 40.51 points, or 0.5%, to 8,011.69
Singapore’s Straits Times Index gained 9.41 points, or 0.3%, to 3,188.04
Korea’s Kospi Index dropped 6.19 points, or 0.3%, to 1,824.16
In New Zealand, the Exchange 50 Gross Index moved higher 33.08 points, or 0.7%, to 4,556.77
In Australia, the S&P/ASX 200 moved higher 19.70 points, or 0.4%, to 4,901.36
