Asian stocks shrug off NKorea missile launch

Asian stocks shrug off NKorea missile launch

On Wednesday, Asian stocks held revenues as Chinese markets returned after a two-day holiday and traders shrugged off the launch of a ballistic missile by North Korea ahead of an upcoming summit between American and Chinese leaders this week.

The Shanghai composite managed to earn 0.98%, Hong Kong's Hang Seng index inched up 0.24%.

Besides this, Japan's Nikkei 225 gained 0.27%, the S&P/ASX 200 surged 0.03%. As for South Korea's Kospi, it almost stood still.

Overnight, American crude stocks closed higher, following the publication of positive American trade data. The latest batch of American economic trade data, contributed to the narrative of a stronger American economy because in February the US trade deficit narrowed by more than expected.

On Tuesday, the Commerce Department told that the trade deficit dipped by 9.6% to $43.6 billion. Additionally, January's trade deficit was revised from $48.5 billion down to $48.2 billion. Experts had expected the trade gap to contract to $44.8 billion in February.

 

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