GLOBAL MARKETS-Asia shares hit 1-month high on Chinese trade data, easing pandemic worries

* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* MSCI ex-Japan rallies on Tuesday, Nikkei rises too
* Signs of peaking in coronavirus outbreak supports
sentiment
* Chinese trade data better than feared
* Confidence tempered by fears of global recession

By Swati Pandey and Anshuman Daga
SYDNEY/SINGAPORE, April 14 (Reuters) - Asian equities
extended gains on Tuesday after China's trade data came in
better than expected and as some nations tried to restart their
economy by partly lifting restrictions aimed at containing the
coronavirus outbreak.
European stock markets were headed for a strong start, with
FTSE futures FFIc1 up 1.5%, German DAX futures FDXc1 gaining
1.7%, Euro Stoxx 50 futures STXEc1 up 1.4%, and U.S. stock
futures ESc1 rising 1.3%.
Analysts said some of the tail risks that had threatened a
much deeper and prolonged downturn were starting to dissipate
thanks to a slowdown in new coronavirus cases in major economies
and a raft of monetary and fiscal stimulus globally.
Market sentiment was boosted by data showing China's exports
in March fell only 6.6% from the year-ago period, smaller than
the expected 14% plunge. Imports eased a modest 0.9% compared
with expectations for a 9.5% drop. "Looking ahead, production constraints should no longer be
an issue as economic life in China returns," Oxford Economics
said in a note, but added that exports were expected to fall
more substantially due to weak global demand.
Chinese shares strengthened on Tuesday with the blue-chip
index .CSI300 up 1.2%. Australian shares .AXJO were up 1.7%
while Japan's Nikkei .N225 gained 2.8%.
Hong Kong's Hang Seng .HSI was up 0.9%.
MSCI's broadest index of Asia-Pacific shares excluding Japan
.MIAPJ0000PUS rose 1.3% to the highest in a month, up 20% from
a four-year low struck on March 19.
Investors are now eyeing the easing of virus-related curbs
in some regions for further trading cues.
In Europe, thousands of shops across Austria are set to
reopen on Tuesday. Spain recorded its smallest proportional
daily rise in the number of deaths and new infections since
early March and let some businesses get back to work on Monday.
In the United States, which has recorded the highest number
of casualties from the virus in the world, President Donald
Trump said on Monday his administration was close to completing
a plan to re-open the U.S. economy.
However, some state governors have signalled the decision on
when to restart businesses lay with them. Wall Street indexes ended mixed on Monday with the Dow and
S&P 500 falling while a 6.2% gain in Amazon shares helped the
Nasdaq end higher. In a sign of worries about struggling global demand, oil
prices barely reacted to a deal to cut output by a record amount
of nearly 10% of world supply.
U.S. crude CLc1 was up just 0.8% at $22.59 a barrel, well
under its January peak of $63.27. Brent LCOc1 rose 1% to $32.1
a barrel. O/R
Skittish market sentiment helped gold prices XAU= cling to
highs not seen in more than seven years at $1,720.1 an ounce.
In currencies, the dollar extended losses on the back of the
U.S. Federal Reserve's massive new lending programme.
The greenback was a shade weaker against the Japanese yen
JPY= at 107.7. The euro EUR= was up 0.3% at $1.0945. The
risk-sensitive Australian dollar AUD=D3 jumped 0.6% to
$0.6420. USD/

(Editing by Sam Holmes and Himani Sarkar)