Calm returns to Asian markets after rout, STI up 0.71%

ASIAN markets clawed back small gains on Friday after steep selloffs the day before, as key indices enjoyed a boost from better-than-expected Chinese trade data and media reports that the US had held back from labelling China a currency manipulator.

This was a divergence from the US markets, which tumbled for a second straight session overnight. The Dow Jones Industrial Average dropped another 545 points, losing more than 5 per cent in total over the two days.

In China, the Shanghai Composite Index climbed 0.91 per cent and the Shenzhen Composite Index added 0.19 per cent. The Hang Seng index in Hong Kong improved markedly by 2.12 per cent to close at 25,801.49. Tokyo's Nikkei 225 eked out a 0.46 per cent gain to close at 22,694.66 after losing almost 4 per cent on Thursday, while Seoul's Kospi index ended eight straight sessions of losses with a 1.51 per cent gain.