China stocks edge up despite soft trade data

China stocks shrugged off soft trade data to rise on Friday morning, helped by gains in banking and energy firms.

China’s exports and imports growth slowed in December after unexpectedly surging the previous month, reports Reuters.

At 04:02 GMT, the Shanghai Composite index was up 3.31 points or 0.1 per cent at 3,428.65. The blue-chip CSI300 index was up 0.2 per cent, with its financial sector sub-index higher by 0.3 per cent.

The consumer staples sector rose 0.33 per cent, the real estate index up 0.26 per cent and healthcare sub-index up 0.57 per cent.

The yuan was quoted at 6.482 per US dollar, 0.24 per cent firmer than the previous close of 6.4978.

The top gainer in the main Shanghai Composite index was Shenzhen Heungkong Holding Co Ltd up 10.09 per cent.

The top loser in the Shanghai index was Avic Shenyang Aircraft Co Ltd down 10 per cent.

So far this year, the Shanghai stock index is up 3.57 per cent, while China’s H-share index is up 5.0 per cent.