Tokyo, Japan (BBN)-Japanese shares headed higher despite government data showing that exports fell in October on an annual basis for the first time in over a year.
Exports declined 2.1 per cent from a year ago on weak demand from China, marking the first drop since August 2014, reports BBC.
Imports plunged by a more-than-expected 13.4 per cent, leading the trade balance to swing to a surplus of 111.5bn yen ($902.5m; £591m).
The benchmark Nikkei 225 index was up 1.6 per cent to 19,957.19 points.
Investors seemed to ignore forecasts that imports would continue to decline on lower commodity prices and weak domestic demand.
They were also looking ahead to the outcome from the end of the Bank of Japan’s two-day policy meeting later in the day.
RATE RISE RALLY
Expectations that the US Federal Reserve was confident enough in the US economy to raise interest rates in December was driving the rally in the rest of Asia.
Chinese shares were up with he Shanghai Composite 0.3 per cent ahead at 3,579.91, while Hong Kong’s Hang Seng index was higher by 1.3 per cent to 22,471.18.
In Australia, the S&P/ASX 200 index was up 1.3 per cent to 5,199.60 points.
South Korea’s benchmark Kospi index was higher by 0.9 per cent to 1,979.62 points despite data that showed producer prices fell for the 15th consecutive month in October.
The producer price index declined 4.5 per cent from a year ago, just off a revised 4.6 per cent fall in September, which was the biggest fall on record.
BBN/SK/AD