Asia Rises on Japan Trade Data

Asia-Pacific markets mostly rose Thursday as investors assessed the fall in Japan’s exports for the second consecutive month, as well as U.S. President Donald Trump’s denial of his intent to fire Jerome Powell as Federal Reserve chairman.The U.S. President on Wednesday denied the possibility of such a move, hours after he told a room full of Republican lawmakers that he would fire Powell.“We’re not planning on doing it,” he said at a meeting with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa at the White House. “I don’t rule out anything,” he added, “but I think it’s highly unlikely, unless he has to leave for fraud.”Trump also reiterated at the same meeting that a 25% tariff would apply to Japanese imports, saying he does not expect to reach a broader deal with the country.In Japan, the Nikkei 225 recovered 237.79 points, or 0.6%, to 39,901.19. Shares in Japan’s Seven & i plunge 7% after Couche-Tard withdrew its $47-billion takeover bidJapan’s exports fell for the second consecutive monthIn Hong Kong, the Hang Seng dipped 18.81 points, or 0.1%, to 24,498.95. Singapore’s non-oil domestic exports beat forecasts in June and jumped to an 11-month highAustralia’s unemployment rate soared to a 43-month highIn other marketsIn Shanghai, the CSI 300 moved up 27.29 points, or 0.7%, to 4,034.49. In Korea, the Kospi index edged up 5.91 points, or 0.2%, to 3,192.29.In Singapore, the Straits Times index gained 29.18 points, or 0.7%, to 4,161.43. In Taiwan, the Taiex index surged 70.38 points, or 0.3%, to 23,113.28.In New Zealand, the NZX 50 popped 150.82 points, or 1.2%, to 12,905.41.In Australia, the ASX 200 gained 77.28 points, or 0.9%, to 8,639.02.