Asia markets mostly up as China data boosts Shanghai

Asian markets mostly rose Thursday, extending a recent run of gains while Hong Kong and Shanghai were boosted by data showing Chinese imports rose in August for the first time in almost two years.

Regional shares have enjoyed a strong run since the start of the month, fuelled by optimism about the state of the US economy and the prospects of borrowing costs being kept at ultra-low levels until at least December.

The rally petered out Wednesday but many markets saw an afternoon recovery Thursday.

Tokyo closed down 0.3 percent but the standout performer was Nintendo, which soared on news it had developed an exclusive Super Mario game for Apple.

Sydney lost 0.7 percent while Seoul edged up 0.1 percent and Singapore was marginally higher in late trade. Manila bounced from morning selling to end higher, as did Taipei.

"With the Federal Reserve and Bank of Japan (policy) meetings ahead of us, investors can't make any outsized moves before the major events are over," Takashi Hiroki, chief strategist at Monex Securities in Tokyo, told Bloomberg News.

"We have a lack of reasons to move, and have been seeing a directionless market for some time."

Shanghai finished 0.1 percent higher, climbing out of the red thanks to the trade figures, while Hong Kong ended up 0.8 percent.

China's customs department said August imports rose 1.5 percent on-year, the first increase in 22 months, while exports fell less than expected thanks to weakness in the country's yuan currency.

- Nintendo soars -

The figures marked a sharp turnaround from July and will raise hopes the world's number two economy and key driver of global growth is stabilising after years of slowing growth. The economy grew last year at its slowest pace in a quarter of a century.

In Tokyo gaming giant Nintendo soared 18 percent at one point after it announced with Apple that "Super Mario Run" would be available on the App Store this year. It ended 13.2 percent higher.

The news came after the global success of mobile game Pokemon Go, based other Nintendo characters, which has now been downloaded about half a billion times.

However, Japanese investors were left unimpressed by figures showing the economy grew just 0.7 percent on an annualised basis in April-June, well down from the 2.1 percent seen in the previous three months.

The figures are the latest to indicate Prime Minister Shinzo Abe's drive to kick-start the economy is having little impact, while they will also put pressure on the central bank to further loosen monetary policy.

On oil markets both main contracts extended recent gains on a softer dollar and industry data indicating US stockpiles sank last week.

The American Petroleum Institute, an industry-funded group, said US inventories fell 12.1 million barrels last week, according to Bloomberg News.

The data bodes well for the release of official figures later in the day, which will provide a clearer idea about demand in the world's top economy.

West Texas Intermediate was up 79 cents at $46.29 and Brent was 67 cents higher at $48.65. 

In early European trade equities markets were higher ahead of a closely watched European Central Bank policy decision. London added 0.5 percent while Frankfurt and Paris each rose 0.1 percent.

- Key figures around 0800 GMT -

Tokyo - Nikkei 225: DOWN 0.3 percent at 16,958.77 (close)

Shanghai - Composite: UP 0.1 percent at 3,095.95 (close)

Hong Kong - Hang Seng: UP 0.8 percent at 23,919.34 (close)

London - FTSE 100: UP 0.5 percent at 6,882.89

Pound/dollar: UP at $1.3356 from $1.3340

Euro/dollar: UP at $1.1260 from $1.1242 late Wednesday

Dollar/yen: DOWN at 101.57 yen from 101.73 yen

New York - DOW: DOWN 0.1 percent at 18,526.14 (close)

Source: AFP