Asian Market Review

Asian markets are trading higher Monday morning after Chinese exports unexpectedly fell by 1% in August, lifting expectations for additional stimulus measures from Beijing. Markets were expecting Chinese exports to rise 2%.

Mainland China’s Shanghai Composite has jumped 0.9% at the open in response, and the smaller cap Shenzhen Composite has a gain of 0.8%. Over in Hong Kong the Hang Seng is edging up by 0.2% as investors remain cautious regarding the political situation and the possibility of more protests.

Shanghai Composite 5 day chart

In Japan the Nikkei is up by 0.6% in morning trade following second quarter GDP results, which showed the Japanese economy growing by 1.3% on an annualized basis in the April-June quarter, which matched market expectations. The Yen is weaker against the U.S. dollar, which is helping exporters gain. Shares of Sony are up by 1.5%, and Toyota has a 0.7% gain.

JPYUSD 5 day chart

In Australia the S&P/ASX 200 has edged up by 0.1%, as the solid gains of 0.6% to 1.2% from the big four banks are being offset by losses from major miners and oil producers. Both BHP and Rio Tinto are lower by 0.5%, while Woodside Petroleum has fallen 0.2% and Oil Search is down 0.7%.

In South Korea the Kospi is leading gains for the region, rising 1% as shares of index heavy weight Samsung have risen 1.4% in early trade. In Taiwan the Taiex has moved higher by 0.3%.

Samsung 5 day chart

Southeast Asian markets are also trading higher, with both the KLCI in Malaysia and the Straits Times Index in Singapore sporting a 0.3% gain.