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April 10th, 2013 
Peter Nolan
ASIAN markets are mostly higher, with Tokyo supported by the weak yen, while Shanghai slipped following a rare trade deficit for China in March.
On Wall Street the Dow index provided support as it climbed to yet another record on hopes for the US economy and optimism about the January-March earnings season that started this week.
Tokyo rose 0.73 per cent, or 95.78 points, to 13,288.13 on Wednesday, while Seoul gained 0.77 per cent, or 14.84 points, to 1,935.58 but Sydney was 0.18 per cent lower, giving up 8.8 points to 4,968.0.
Hong Kong rose 0.75 per cent, or 164.22 points, to end at 22,034.56, while Shanghai was flat, edging up 0.35 points to 2,226.13.
China’s customs agency said Wednesday exports climbed a below-forecast 10.0 per cent last month, and imports jumped a bigger-than-expected 14.1 per cent, while the country saw a trade deficit of $880 million. Economists had tipped a surplus of $14.7 billion.
The news comes a day after officials said inflation had come in below estimates, which analysts said indicated ongoing weakness in the world’s number two economy, still struggling to recover from slower growth last year.
Dongxing Securities analyst Sun Zheng said the data showed “external demand still remains weak, which is widely known to the market”.
But he told Dow Jones Newswires that “investors will pay more attention to indicators that reflect companies’ business operations, profitability and revenue growth”.
In Tokyo the Nikkei continued its upward trend, having piled on around 10 per cent since the Bank of Japan’s stimulus package last week, which sent the yen tumbling against the dollar to levels not seen since May 2009.
In early European trade the greenback bought 99.40 yen, while the euro was at 130.20 yen, against 99.18 and 129.73 in New York on Tuesday.
The euro bought $1.3099, from $1.3081 in New York.
There was also some cheer from New York, where the Dow rose 0.41 per cent to end at another record high Tuesday, while the S&P 500 jumped 0.35 per cent and the Nasdaq added 0.48 per cent.
Investors have an eye on the Korean peninsula, where the North continues its stand-off with the South and the United States.
The South Korea-US Combined Forces Command also raised its “Watchcon” status from 3 to 2 reflecting indications of a “vital threat”, Yonhap news agency said, citing a senior military official.
Oil prices were mixed, with New York’s main contract, light sweet crude for delivery in May, dropping nine cents to $94.11 a barrel in the afternoon and Brent North Sea crude for May gaining seven cents to $106.30.
Gold was at $1,581.50 an ounce at 1035 GMT compared with $1,571.97 late on Tuesday.
In other markets:
— Singapore slipped 0.10 per cent, or 3.32 points, to 3,293.25.
— Taipei rose 0.31 per cent, or 24.26 points, to 7,752.80.
— Wellington gained 0.57 per cent, or 24.86 points, to 4,420.06.
— Manila added 1.24 per cent, or 83.62 points, to 6,815.84.
— Jakarta fell 0.45 per cent, or 22.11 points, to 4,877.48.
— Kuala Lumpur added 0.35 per cent, or 5.93 points, to 1,696.20.
— Bangkok rose 1.33 per cent, or 19.53 points, to 1,490.25.
— Mumbai rose 1.03 per cent or 187.97 points to 18,414.45 points, snapping five straight days of declines.
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