Market Commentary - Foreign Markets
Chinese markets bounce after trade data As on : 07-Nov-24  16:19

Asian stocks ended mixed on Thursday as upbeat Chinese trade data offset concerns over the impact of Trump's policies on international trade, immigration and other key issues.

The dollar saw a modest pullback in Asian session, oil prices fluctuated, and gold recovered some ground after falling sharply in the previous session as focus shifted to interest-rate decisions from the Bank of England and the Federal Reserve due later in the day.

China's Shanghai Composite index jumped 2.57 percent to 3,470.66 as official data showed China's exports expanded the most in more than two years in October.

Exports grew 12.7 percent on a yearly basis, following an increase of 2.4 percent in September, customs data revealed. Shipments were forecast to climb only 5.0 percent.

On the other hand, imports dropped 2.3 percent annually after a 0.3 percent rise in the previous month due to weaker domestic demand.

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