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Shares were mixed in Asia on Tuesday, as investors were encouraged by strong growth in China's trade in September.
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An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries.
But the release of stronger trade data in Beijing helped Tokyo recover from early losses. Shanghai declined. Hong Kong's market was closed for a typhoon.
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China's exports rose 9.9% from a year earlier to $239.8 billion in September, while imports gained 13.2% to $202.8 billion. Tuesday’s customs data showed exports to the United States rose 20.5% to $44 billion despite higher U.S. tariffs, while imports of American goods rose 24.5% to $13.2 billion.
Chinese exporters have benefited from China’s relatively early reopening from pandemic shutdowns and from strong global demand for masks and medical supplies. They have been taking market share from foreign competitors that are hampered by anti-disease controls.
“Exports continued to do well, most likely thanks to the recent strength of retail sales among China’s major trading partners. And a jump in imports suggests that domestic investment spending remains robust," Julian Evans-Pritchard of Capital Economics said in a report.