European and Asian shares rose Tuesday after new data showed that China's trade slump may be easing off.
Julian Satterthwaite reports.
Shares gain on signs China trade slump is easing
There were glimmers of hope Tuesday (April 14) for the global economy.
That after new numbers showed China's trade slump easing off.
Exports in March were down only 6.6%.
That's less awful than the 14% predicted by economists.
Though Beijing officials still sound wary: (SOUNDBITE) (Mandarin) SPOKESMAN, GENERAL ADMINISTRATION OF CUSTOMS, LI KUIWEN, SAYING:"The lower demand from international markets has inevitably impacted our foreign trade.
The decrease in foreign trade and new orders has started to show.
The difficulties for our foreign trade can't be underestimated." The news was one factor giving shares a lift.
Japan's Nikkei index closed over three percent higher, hitting a one-month high.
Stocks in Shanghai and Seoul also made solid gains.
Sentiment was helped by a pledge from Washington the day before.
The U.S. administration says it's close to finalising a plan to reopen the economy.
European shares then joined in the gains.
The regional Stoxx 600 index was up close to one percent in early trade.
Drugmakers led gains, with Astra Zeneca up over 5%.
That after it said it was testing one of its drugs for use in battling the global virus crisis.
Oil prices were little moved early Tuesday though, despite a global deal to slash output.
Over Easter OPEC producer nations and other countries agreed cuts that could total as much as a fifth of worldwide consumption.
But prices have gained only modestly since.
With global demand for crude down by about 30%, traders say there's only so much an output cut can do.