Monday, 9 May 2016

Asian Shares trade Mixed, Nikkei Gains 1%, Kospi, ASX Near-flat

Asian stocks open mixed on Monday, as oil prices rallied on supply outages in Canada and amid surprise over the exit of Saudi Arabia's veteran oil minister Ali al-Naimi.

Australia's S&P/ASX 200 index was 0.14 percent higher, buoyed by the energy and materials subindexes, which were up 2.33 percent and 1.2 percent respectively.

Beijing released trade data on Sunday that showed exports contracted 1.8 percent and imports plunged 10.9 percent.

Investors will likely watch Australia's market react to this new data, because China is one of Australia's top trade partners.

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