China posts surplus on strong export growth.

Fears that flagging demand in the U.S. and Europe would weigh heavily on China's trade data didn't play out as exports grew 14.7% in April, helping the country swing to a surplus of $18.16B after posting a slight deficit in March. The data surprised analysts, even as some said the numbers may be inflated: "This probably reflects some over invoicing [as] it was inconsistent with cargo volumes," one economist told WSJ. Nevertheless, the data served to buoy regional markets as the Nikkei continued its ascent in Japan, rising 0.74% to yet another new five-year record high.