Asian stocks rose as brokerages trading in Hong Kong climbed after China announced plans to link bourses in the city and Shanghai, outweighing an unexpected fall in exports from the region’s biggest economy.
Japan’s Nikkei 225 eked up 0.43 points to 14,300.12
The Hang Seng Index in Hong Kong leaped 343.79 points, or 1.5%, to 23,186.96
Citic Securities Co. surged 9.2% in Hong Kong, pushing a gauge of Chinese shares listed in the city to a three-month high. Haitong Securities Co. rose 7.5% to $12.04, the most since November.
NSK Ltd. gained 3.6% in Tokyo after Goldman Sachs Group Inc. advised buying shares of the bearings maker.
Toyota Motor Corp. slid 2.4%, extending yesterday’s slump after recalling more than six million vehicles.
Australia’s index rose after a report showing the nation’s jobless rate unexpectedly fell in March.
CHINA
The Shanghai CSI 300 spiked 35.14 points, or 1.6%, to 2,273.76
China Premier Li Keqiang said the exchanges in the two cities will connect to improve development of capital markets in China.
China’s customs administration said shipments from the nation declined 6.6% from a year earlier, compared with the median estimate for a 4.8% increase in a survey of economists. Imports fell 11.3%, leaving a trade surplus of $7.71 billion U.S.
In other markets;
Taiwan’s Taiex Index added 17.53 points, or 0.2%, to 8.948.10
Singapore’s Straits Times Index erased 6.34 points, or 0.2%, to 3,203.58
Korea’s Kospi Index 9.66 points, or 0.5%, to 2,008.61
The New Zealand Exchange 50 index collected 48.08 points, or 1%, to 5,115.49
In Australia, the S&P/ASX 200 was up 16.97 points, or 0.3%, to 5,480.75
