China Stocks end higher

Mainland China share market finished session slightly higher on Monday, 08 August 2022, after data showed exports grew 18 percent in July, sending the trade surplus to a record high and easing concerns over waning global demand. However, market gains were limited after Chinese imports data disappointed, highlighting weak domestic demand.

U.S.-China tensions over Taiwan also remained on investors' radar, with China announcing fresh military drills in the seas and airspace around Taiwan.

At close of trade, the benchmark Shanghai Composite Index rose 0.31%, or 9.91 points, to 3,236.93. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.79%, or 17.21 points, to 2,183.22. The blue-chip CSI300 index was down 0.21%, or 8.84 points, to 4,148.07.

CURRENCY NEWS: Chinese yuan steadied after weekend data showed the country's exports unexpectedly picked up speed in July.

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