Asian shares rise, China's March trade data show improvement

TOKYO (AP) — Asian shares rose Tuesday although investors were braced for sobering news about how the coronavirus pandemic has hurt global corporate earnings and the Chinese economy, the driver of growth for the region.

Japan's benchmark Nikkei 225 added 3.1% to finish at 19,638.81. Australia's S&P/ASX 200 gained 1.9% to 5,488.10, while South Korea's Kospi jumped 1.7% to 1,857.31. Hong Kong's Hang Seng edged up 0.8% to 24,483.12, and the Shanghai Composite added 1.4% to 2,823.19.

Data released Tuesday by China showed that its trade improved in March but was below last year’s levels, and forecasters warned Chinese exporters face another slump as the coronavirus pandemic depresses global demand.

Exports sank 6.6% from a year earlier to $185.1 billion, an improvement over the 17.2% contraction in January and February, customs data showed Tuesday. Imports declined 0.4% to $165.2 billion, recovering from a 4% fall in January and February after Beijing started reopening factories and stores.

Exports to the United States fell 20.8% from last year to $25.2 billion while imports of American goods declined 12.6% to $9.9 billion. China’s politically sensitive trade surplus with the United States was $15.3 billion, accounting for three-quarters of its global surplus of $19.9 billion.

On Wall Street, the S&P 500 fell 1% after cutting early losses by more than half toward the end of the day. The benchmark index surged 12% last week, its best gain since 1974.

The S&P lost 28.19 points to 2,761.63. The Dow Jones Industrial Average fell 1.4% to 23,390.77. The Nasdaq rose 0.5% to 8,192.42. The Russell 2000 index of smaller company stocks lost 2.8%, to 1,212.04.

Cautious optimism that the outbreak has begun to plateau in some of the worst-hit areas and another big...