SINGAPORE — Shares in the Asia-Pacific were higher on Wednesday as China released trade data, and the Bank of Korea and Reserve Bank of New Zealand hiked rates.
Hong Kong’s Hang Seng index gave up earlier gains to close 0.22% down at 20,797.95. Airline stocks rose after a report said quarantine-free travel may be allowed by November under some conditions, but also pared gains later in the day.
Cathay Pacific was up 0.59% and China Southern Airlines was 3.15% higher at the close.
Tianqi Lithium plunged more than 11% at its market debut in Hong Kong from its offer price of 82 Hong Kong dollars ($10.45). It recovered from its losses to close at its offer price.
Miniso shares dropped in its debut on the Hong Kong market.
Asia markets
Japan’s Nikkei 225 rose 0.54% to close at 26,478.77, and the Topix index gained 0.29% to 1,888.85.
In South Korea, the Kospi advanced 0.47% to 2,328.61 and the Kosdaq was 1.65% higher at 763.18.
Taiwan’s benchmark Taiex jumped more than 3% in morning trade after the finance ministry said it would use its stock stabilization fund to intervene in the market, according to Reuters. The index was last up 2.68%.
The S&P/ASX 200 in Australia was mostly flat during the session but gained 0.23% to 6,621.6 at the close.
Mainland China markets initially struggled for direction but closed higher. The Shanghai Composite was slightly higher at 3,284.29 and the Shenzhen Component rose 0.56% to 12,508.89.
Chinese trade data released Wednesday showed a 17.9% increase in dollar-denominated exports in June, higher than the 12% that analysts expected, Reuters reported. Imports rose 1%, less than the 3.9% predicted by analysts in a poll.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.41% higher.
Investors will also be looking ahead to the U.S. inflation report for June.
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