Asian stocks were vastly higher today as the Japanese yen moved down to its lowest levels against the greenback since 2010.
During the Asian trading today, Hong Kong’s Hang Seng increased with 0.68% while the Shanghai Composite reached nearly 2.1%. Japanese financial markets were closed because of a public holiday.
After decrease od 1.5% last week, the Shanghai Composite rebounded highly as pharmaceuticals and technology names forced the rally.
Official data from last week indicated that Chinese exports increased with 14.1% from a year earlier in December, disproving previous expectations for a 5% gain and up from a 2.9% rise in November.
Imports increased by 6% from a year earlier, disproving expectations for a 3.5% rise and following on from zero growth the previous month.
At the same time, the New Zealand’s NZSE 50 rose by 0.48% while South Korea’s Kospi gained 0.18%. Singapore’s Straits Times Index was one of the region’s laggards, trading drop by 0.45%.