Thu, 16 Jul 2020

Optmism spills over into Asian equity markets

By Jay Jackson, Arkansas State News.Net
12 Mar 2019, 15:46 GMT+10

SYDNEY, Australia - Mirroring U.S. markets Asian traders and investors weighed into stocks across the region on Tuesday.

Optimism about U.S.-China trade negotiations and a possible resolution for the stalemate on Brexit drove equity prices and the British pound higher.

At the close in Japan, the Nikkei 225 was ahead 378.60 points or 1.79% at 21,503.69.

In China, the Shanghai Composite was trending higher, having added 33.31 points or 1.10% at 3,060.31 at the finish.

At the close of trading in Hong Kong, the Hang Seng was up 4187.56 points or 1.46% at 28,920.86.

The Australian All Ordinaries closed 8.00 points or 0.13% higher at 6,271.30.

On foreign exchange markets the British pound was again the star, rising to 1.3252 approaching the Sydney close.

The euro was a tad stronger as well, last quoted at 1.1258.

The Japanese yen drifted a touch to 111.28, while the Swiss franc was little changed at 1.0101.

The Canadian dollar was also coma-like, trading at 1.3392.

The Australian and New Zealand dollars firmed a touch to 0.7076 and 0.6834 respectively.

Overnight on Wall Street the five day losing streak of last week ended with all indices making solid ground on Monday.

The biggest gainer was the Nasdaq Composite which rose 149.92 points or 2.02% to 7,558.06.

The Standard and Poor's 500 gained 40.23 points or 1.47% to 2,783.30.

The Dow Jones industrials added 200.64 points or 0.79% to 25,650.88.

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