Australia ASX200 gains 0.7% on trade data

Australian share market finished session higher on Thursday, 08 March 2018, as risk appetite buying spurred by better than expected domestic trade surplus data and news of potential exemptions for some countries from proposed US tariffs on imported steel and aluminium. Most of ASX sectors inclined, with financials and materials being notable gainers. The benchmark S&P/ASX200 index was up 0.7% at 5,942.9 points at the close of trade.

Australia posted a seasonally adjusted trade surplus of surplus of A$1,055 million was posted in January following a downwardly revised trade deficit of A$1,146 million in December (previously reported as a deficit of $1,358 million). Australia posted a large trade surplus in January driven by stronger exports and a decline in imports. Imports decelerated after posting the strongest annual growth rate in six years in December.

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