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Japan Stock Market Closes Higher Despite August Trade Data


Japan’s stock market headed higher on September 17 despite trade data for August coming in below market expectations.

Japanese exports rose 3.1% from a year ago, falling short of the 4% predicted, while imports fell a more-than-expected 3.1% in the same period.

Investors also ignored a credit rating downgrade for Japan by S&P rating agency, because of a weakening outlook for the economy.

Japan’s benchmark Nikkei 225 index closed up 1.4% to 18,432.27.

Photo Getty Images

Photo Getty Images

The index has risen for a third consecutive day.

Australian shares headed higher, following the global lead, after US shares were positive ahead of the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade.

In Sydney, the S&P/ASX 200 index closed up 0.9% to 5,146.80 points.

Chinese shares headed higher, following on from yesterday’s trend, when mainland shares rallied to close up nearly 5%.

The Shanghai Composite was up 1.6% to 3,202.42, while Hong Kong’s Hang Seng index was higher by 0.6% at 22,089.24 in afternoon trade.

South Korea’s benchmark Kospi index finished trading flat at 1,976.49 as investors awaited the Fed’s decision.