Asian stocks markets were broadly positive Tuesday after Chinas exports grew at a strong pace during March and imports rebounded giving investors heart that domestic demand is improving as part of the recovery from the pandemic.
MSCIs broadest index of AsiaPacific shares outside Japan was trading up 0.4 Tuesday after opening up less than 0.1 higher.
In Australia, the SPASX200 bucked the regional trend and was flat while Japans Nikkei rose 1.1 in the afternoon session.
Hong Kongs Hang Seng Index added nearly 1 while the mainland bluechip index CSI300 edged up 0.5 and ground after the March trade figures were published.
South Koreas KOSPI 200 Index doubled its early gains to be up 1.
Chinas exports in dollar terms rose by 30.6 in March from one year earlier while imports jumped 38.1 compared to the same time last year, figures published Tuesday showed.
Imports grew at the fastest pace in four years which analysts said indicated a postpandemic recovery in Chinese domestic demand.
China is benefitting because of its surging first in first out recovery but the global economy is also accelerating and picking up and that will diminish some of Chinas export performance in the quarters ahead, said John Woods, Credit Suisses Asia Pacific chief investment officer.
The trade data helped turn around a weaker tone that was evident earlier in Asia following declines on Wall Street overnight.
In the United States, the Dow Jones Industrial Average fell 55.2 points, or 0.16, to…