Positive China trade data boosts Australian dollar, mining companies
mining companies
Sydney - XINHUA
The Australian dollar and the nation's mining companies were boosted on Monday following stronger-than-expected Chinese trade data.
China exports in September rose 15.3 percent from a year ago, and China's imports rose 7 percent, after being tipped to only rise 2 percent.
China's demand for iron ore in September was up 13.1 percent from August, while coal imports were up 12.2 per cent.
The Australian dollar rose from a low of 86.5 U.S. cents to a peak of 87.5 U.S. cents, before easing back to 87.32 U.S. cents.
Iron ore miner Fortescue Metals rose nearly 6 percent, Rio Tinto was up 1.9 percent, and BHP Billiton was 0.9 percent by 1:37 p.m. (AEDT).
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