Asian shares stuck close to one year highs after positive trade data from China on Thursday reassured markets.
Chinese imports rose in August, up 15 percent from a year ago and smashing forecasts of a 4.9 percent drop. Exports from the world’s second biggest economy fell 2.8 percent.
Wang Jianhui, an economist at Capital Securities, commented:
“The improvement in imports is mostly a reflection of stronger domestic demand. Chinese companies are restocking, and also are now expecting prices to start rising.
“We expect exports to stay stable and imports to improve as higher prices spread to more products.”
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent, down from four days of year-long highs. The Shanghai Composite closed up 0.13 percent, with the Hang Seng up 0.75 percent.