Beijing, China (BBN)-Asian stock markets rose on Wednesday, as stronger-than-expected trade data from China boosted investor sentiment.
The world’s second-largest economy said exports in yuan terms surged 18.7 per cent in March compared with the same period last year, reports BBC.
Investors cheered the data and the benchmark Shanghai Composite index rose 1.4 per cent to close at 3,066.64.
Asian markets were also pushed higher after oil prices jumped on Tuesday.
The rises followed reports that oil producers Russia and Saudi Arabia have reached a consensus about a freeze in output ahead of the producers’ meeting in Doha, Qatar on 17 April.
In Australia, the commodities-heavy share index closed up 79 points, or 1.6 per cent, at 5,054.69.
In Japan, the benchmark Nikkei 225 index closed up 452.43 points, or 2.8 per cent, at 16,381.22.
Shares in Japan’s Fast Retailing ended 6.5 per cent higher on reports in local media that the company will slash prices at its Uniqlo clothing stores.
The retailer last week warned that its profit for the full year to August would fall by 45 per cent, due to slower sales.
In Hong Kong, the benchmark Hang Seng index surged 3.2 per cent to end at 21,158.71.
Elsewhere in Asia, markets in South Korea are shut for a public holiday.
Trading will resume on Thursday.