China markets rise as investors react to trade data for September

Trading in Hong Kong has been cancelled all day on Wednesday because of a typhoon warning alert, the Hong Kong exchange said in a release at noon.

China markets rise as investors react to trade data for September

SINGAPORE — Shares in mainland China were higher in Wednesday trade as investors reacted to the release of Chinese trade data for September.

The Shanghai composite gained 0.55% while the Shenzhen component rose 1.491%.

China's imports rose 17.6% from a year earlier in September, customs data showed Wednesday, missing expectations for a 20% expansion in a Reuters poll. Exports in September rose 28.1% from a year earlier in September, the data showed, exceeding forecasts by analysts in a Reuters poll for a 21% year-on-year rise.

Trading in Hong Kong has been cancelled all day on Wednesday because of a typhoon warning alert, the Hong Kong exchange said in a release at noon.

Mixed Asia-Pacific markets

In Japan, the Nikkei 225 slipped 0.32% to close at 28,140.28 while the Topix index dipped 0.45% to finish the trading day at 1,973.83.

Elsewhere, South Korea's Kospi advanced 1.11%. The S&P/ASX 200 in Australia closed 0.11% lower at 7,272.50.

MSCI's broadest index of Asia-Pacific stocks outside Japan rose 0.22%.

Oil moves

Oil prices were muted in the afternoon of Asia trading hours, although they still remained elevated above $80 per barrel.

International benchmark Brent crude futures were little changed at $83.41 per barrel. U.S. crude futures traded fractionally lower at $80.60 per barrel.

China on Tuesday announced plans to liberalize coal-fired power pricing, Reuters reported, as the country faces a energy crisis.

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Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.37 after bouncing from levels below 94.2 earlier in the week.

The Japanese yen traded at 113.44 per dollar, stronger than levels around 113.6 seen earlier against the greenback. The Australian dollar was at $0.7339, off levels around $0.738 seen yesterday.