China Export Beat

Shares in Asia-Pacific were mostly higher on Tuesday, as China’s August trade data came in above expectations. The Chinese economy made a remarkably strong revival after the initial coronavirus-led slump last year. China’s exports jumped 25.6% year-over-year in August, and customs data showed Tuesday — above expectations for a 17.1% rise. Commodity prices remain elevated despite Beijing's attempts to cool them. The Shanghai composite in mainland China rose 1.51% to close at 3,676.59 while the Shenzhen component advanced 1.074% to 14,702.90.

Hong Kong’s Hang Seng index gained 0.73% to close at 26,353.63. Shares of retail firms listed in the city rose after reports that Hong Kong will allow quarantine-free entry for mainland visitors from Sept. 15. Chow Sang Sang jumped 5.53%, Giordano International gained 6.49%, and Sa Sa International surged 10.53%.

The Nikkei 225 in Japan rose 0.86% to close at 29,916.14, with shares in the country continuing to trek upward after two straight trading days of solid gains. That comes as investor sentiment is buoyed by the prospect of more stimulus that has reportedly been called for by prime minister contender Fumio Kishida. Elsewhere, South Korea’s Kospi dipped 0.5% to end the trading day at 3,187.42 while the S&P/ASX 200 in Australia closed little changed at 7,530.30.