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Nov 08, 2016 6:11AM ET
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Shares in Asia narrowly mixed with Shanghai up after trade figures
Published Nov 07, 2016 10:04PM ET
© Reuters. Asian shares mixed
Investing.com - Asian shares were narrowly mixed on Tuesday in cautious trade after China reported weaker than expected trade figures for October and investors awaiting results from the U.S. presidential election with Hillary Clinton seen holding an edge on rival Donald Trump.
The Shanghai Composite gained 0.24%, while the Nikkei 225 eased 0.30%.
In China, the trade balance for October came in a surplus of $49.06 billion, narrower than the $51.07 billion seen as exports andimports missed expectations as well.
Earlier, in Australia, NAB business confidence for October came in at plus-4, compared with a previous reading of plus-6, and the NAB business survey came in with a reading of plus-6, compared with a previous reading of plus-8.
"Beyond the near-term, impetus from those growth drivers will fade, which will see the economy slow into 2018. Two more 25bps rate cuts are still expected from the RBA next year in response to ongoing low inflation and a more subdued growth outlook," NAB Chief Economist Alan Oster said, adding he is clearly more concerned than the Reserve Bank about the near-term outlook.
The S&P/ASX 2000 rose 0.03%.
Overnight, U.S. stocks were higher after the close on Monday, as gains in the Healthcare, Technology and Financials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 2.08%, while the S&P 500 index climbed 2.22%, and the NASDAQ Composite index added 2.37%.
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Nov 08, 2016 1:30AM ET
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