Asian shares rise, with Japan leading after trade data

Asian markets were trading broadly higher on Wednesday morning, with Japanese stocks gaining the most even after September trade figures disappointed.

Japan's benchmark Nikkei 225 index rallied 0.75% to 18,343.84 points within the first hour of trade, while Tokyo's broader Topix gauge jumped 0.73% to 1,510.21 points. Japanese exports grew at a soft pace last month, according to new data from Japan's customs office on Wednesday. Japan's trade deficit contracted from ¥569.7 billion in August to ¥114.5 billion last month, while analysts expected a trade surplus of around ¥87 billion in September.

Exports rose only 0.6% year-on-year, as manufactured goods exports tumbled 8.2% in September. The market forecast was for a 3.8% rise in exports last month. Imports tumbled 11.1% over the same period, led by a near 44% decline in petroleum imports due to lower prices.

Korea's benchmark Kospi index jumped 0.49% to 2,049.45 points on Wednesday morning in Seoul, while mainland China's benchmark Shanghai Composite traded little higher at 3,426.51 points at the opening bell.

Hong Kong markets were closed on Wednesday for the Chung Yeung Festival.

The benchmark Australian S&P/ASX 200 index shed 0.36% to trade at 5,216.60 points in Sydney, with the big banks dragging the index lower on Wednesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.27% to 5,911.15 points this afternoon in Wellington.