Fri, 30 Oct 2020

Very minor stock gains recorded in Asia, U.S. dollar dips

Lola Evans
29 Sep 2020, 18:12 GMT+10

SYDNEY, NSW, Australia - The worldwide rally in stocks of the previous 24 hours came to a halt in Asia on Tuesday.

All the major indices in Asia finished flat on Tuesday with only very minor gains recorded in Tokyo, Shanghai and Sydney. In Hong Kong stocks fell.

Impressive gains had been recorded in Europe overnight, and on Wall Street, with London too stacking up a positive performance.

In Asia however there were signs of the global rally running out of steam.

Japan's Nikkei 225 rose just 27.48 points or 0.06% to 23,539.10.

China's Shanghai Composite edged up 6.82 points or 0.21% to 3,224.36.

The Australian All Ordinaries added 6.60 points or 0.11% to 6,141.50.

In Hong Kong, the Hang Seng slid 200.52 points or 0.85% to 23,275.53.

The U.S. dollar came in for some minor profit-taking in the Asia zone on Tuesday. The euro inched up to 1.1676. The British pound was in demand at 1.2874. The Japanese yen was little changed at 105.58, while the Swiss franc firmed a tad to 0.9239.

The Canadian dollar was notionally stronger at 1.3378. The Australian dollar gained to 0.7093. The New Zealand dollar edged up to 0.6564.

Overnight on Wall Street, the Dow Jones Industrial Average was ahead 410.1 points, or 1.51%, at 27,584.06.

The Standard and Poor's 500 added 53.14 points, or 1.61%, to 3,351.60.

The Nasdaq Composite climbed 203.96 points, or 1.87%, to 11,117.53.

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