China trade data, China Literature debut, oil as well as Trump in focus

Japan’s Nikkei 225 closed down 0.1 percent at 22,913.82 a day after the benchmark index hit a 26-year high.

Across the Korean Strait, the Kospi edged up 0.27 percent to end at 2,552.4 after trading flat earlier within the day. Gains in blue chip names offset losses in financials as well as automakers as well as manufacturing stocks: Samsung Electronics ended 1.18 percent higher, SK Hynix rose 0.97 percent as well as Posco closed down 2.31 percent.

Down Under, the S&P/ASX 0 inched higher by 0.03 percent to finish the session at 6,016.27. Mining stocks pared gains made within the last session. The heavily-weighted financials sub-index held within the green to trade higher by 0.64 percent on the day.

Commonwealth Bank announced unaudited net profit for the three months ending September climbed to 2.8 billion Australian dollars ($2.14 billion). Cash earnings for the quarter rose 6 percent to A$2.65 billion ($2.03 billion). Commonwealth shares closed up 2.65 percent, outperforming various other banking stocks, which notched moderate gains.

Greater China markets were narrowly mixed. Hong Kong’s Hang Seng Index shed 0.1 percent by 3:00 p.m. HK/SIN. Mainland markets gave up gains made during early afternoon trade to close mostly flat on the day. The Shanghai Composite added 0.04 percent to end at 3,414.91 as well as the Shenzhen Composite closed 0.05 percent higher at 2,013.71.

October trade data released Wednesday showed China’s exports rose 6.9 percent via one year ago, compared to the 7.2 percent forecast in a Reuters poll. Imports rose 17.2 percent, above the 16 percent forecast. China’s surplus with the U.S., meanwhile, declined to $26.2 billion via $28.08 billion last month, Reuters added.

“Markets seem unsure which way to go next … [given how] all the key releases were last week,” Rob Carnell, Asia head of research at ING, said in a note.

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