Asian shares mostly gain as China exports rise

TOKYO (AP) — Asian shares were mostly higher on Tuesday with hopes growing for a global economic rebound despite surging coronavirus cases in many places.

China reported its exports rose nearly 31% in March, in line with expectations but weaker than the 60% growth seen in the first two months of the year.

The rising trade activity reflects higher demand in overseas markets even as some countries restore precautions to counter rising numbers of new infections.

Japan's benchmark Nikkei 225 gained 0.7% to finish at 29,751.61. South Korea's Kospi gained 1.1% to 3,169.08. Australia's S&P/ASX 200 inched up less than 0.1% to 6,976.90. Hong Kong's Hang Seng surged 0.4% to 28,561.26, while the Shanghai Composite slipped 0.5% to 3,395.76.

Robert Carnell, Regional Head of Research Asia-Pacific at ING, expects trading in the region to be tentative as investors await data that will help assess the recovery from pandemic damage.

Apart from the Chinese trade data, “Asian markets, like others, will be on tenterhooks pending the release of important March U.S. inflation figures later today," he said in a report.

Earnings season is approaching and corporate results may indicate the direction of future growth as nations gradually emerge from the damage set off by the pandemic.

JPMorgan Chase and Wells Fargo report on Wednesday, while Bank of America and Citigroup report on Thursday.

Worries remain about recent surges in COVID-19 cases, including Brazil and Michigan state in the U.S. Earlier this week, Japan, which trails the world in the vaccine rollout, called for government-backed measures to curb the recent surge in the sickness in some areas.

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