SHARES have closed higher despite slipping in afternoon trade due to concerns about a slowdown in China.
Data from China showed exports unexpectedly fell 3.1 per cent, while imports fell 0.7 per cent in June, suggesting a further slowdown in the Asian economic giant on the back of global weakness.
At the close, the benchmark S&P/ASX200 index was 19.7 points, or 0.4 per cent, higher at 4901.4.
The broader All Ordinaries index was up 18.9 points, or 0.39 per cent, at 4885.4.
IG market analyst Chris Weston said the local market shed almost one per cent in afternoon trade on the back of the China figures.
"The Chinese data has been a slap back to reality," Mr Weston said.
"Chinese growth is firmly in question and that's going to have massive ramifications for the Australian economy."
