Business

China shares jump despite weak economic data

Shanghai trader Image copyright Getty Images
Image caption Bright red stock boards in Shanghai - indicating gains in China

Shares in mainland China jumped on Monday despite the world's second largest economy reporting weak export data over the weekend.

The country's exports fell by 8.3% in July, far worse than expected and the producer price index was down 5.4% from a year earlier

However, the benchmark Shanghai Composite ended up 4.9% at 3,928.42.

Investors were trading on the expectation of yet another round of stimulus policy.

In Hong Kong, the Hang Seng index failed to pick up on the mainland's optimism and closed down 0.1% at 24,521.12.

In Japan, the Nikkei index was higher, closing 0.4% higher at 20,808.69.

In Australia, the S&P/ASX 200 index rose 0.6% to 5,509.20.

However, shares in medical company Ansell fell by more than 15% after the company gave a downbeat outlook. It said it was expecting strong headwinds from tough global economic conditions and the stronger US dollar.

In South Korea, the Kospi index closed down for a third consecutive session, finishing 0.4% lower at 2,003.17.

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