Investing.com – Asian equities climbed in morning trade on Tuesday as investors await China’s April trade data due later in the day.
Exports are expected to rebound from March’s slump, although early indicators signalled an April slowdown, reports suggested.
Meanwhile, traders are also weighing the potential impact of the U.S. pulling out from the Iran nuclear deal, as President Donald Trump said in his twitter account that he will be announcing a decision on the Iran nuclear accord Wednesday early morning in Asia.
China’s Shanghai Composite and the Shenzhen Component opened 0.3% higher by 9:30PM ET (01:30 GMT), while Hong Kong’s Hang Seng Index jumped 1.0%.
Japan’s Nikkei 225 gained 0.4% in morning trade. Takeda Pharmaceutical Co., Ltd. (T:4502) was in focus as the company is nearing an agreement to buy rival drugmaker Shire plc (NASDAQ:SHPG), according to reports which cited people with knowledge of the matter, adding that the acquisition would mark the biggest takeover ever by the Japanese company.
The news broke a month after Takeda reached a preliminary pact with Shire, when the Japanese company offered the equivalent of about £49 ($66.47) a share in stock and cash, or $64 billion. An agreement could be announced as early as Tuesday, according to the people.
Japanese household spending also garnered some attention, as government data showed on Tuesday that the spending fell 0.7% in March from a year earlier, marking the second straight month of declines. Wage earners' income on the other hand slid 3.8%.
Separately, the country’s Finance Minister Taro Aso said on Tuesday that Japan will host a G20 financial leaders' meeting in Fukuoka, western Japan, over June 8-9 next year.
Elsewhere, Australia’s S&P/ASX 200 climbed 0.4%, while South Korea’s KOSPI was up 0.5%.