Asian Markets end mostly higher on Monday

Asian Markets ended mostly higher on Monday, despite Wall Streets’ fall last Friday on US President Donald Trump’s tariff threats. Trump has intensified his trade war with the threat of 30% tariffs on the European Union and Mexico. Chinese shares gained after data showed China’s exports growth beat expectations in June, while rare earths shipments surged 60.3% in June to record high. China’s overall exports jumped 5.8% in June year-on-year in US dollar terms, customs data showed. Hong Kong shares rose ahead of Chinese retail sales, industrial output and gross domestic product due on Tuesday. Moreover, the Kospi surpassed the 3,200 mark for the first time in nearly four years. However, Japanese shares declined marginally due to concerns about an upcoming domestic election and unresolved trade talks with the United States. Japan’s seasonally adjusted core machinery orders in May fell 0.6% from the previous month.