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Asian shares rise after upbeat US trade data

Published on Jan 8, 2014 11:13 AM

HONG KONG (AFP) - Asian markets rose on Wednesday, taking a lead from Wall Street after another set of data indicating the United States economy is getting back on track.

The upbeat US trade statistics also helped the dollar resume its upward trend against the yen, while investors await the release of minutes from the Federal Reserve's most recent policy meeting to see if another cut in its stimulus could be on the cards.

Tokyo rose 1.04 per cent by the break on the back of a weakening yen, Hong Kong added 0.90 per cent, Shanghai gained 0.61 per cent, Seoul advanced 0.11 per cent and Sydney was flat.

After a tentative start to 2014 - caused by profit-taking after healthy gains last year - US shares enjoyed a rally on Tuesday after the Commerce Department said the country's trade deficit shrank in November as exports hit a record high for a second straight month.

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