Mon, 30 Nov 2020

Chinese stocks supported while other Asian markets slip

Lola Evans
20 Oct 2020, 18:05 GMT+10

SYDNEY, NSW, Australia - Stocks in mainland China rose sharply on Tuesday, a move at odds with the rest of the region.

At the close on Tuesday, China's Shanghai Composite was ahead 182.69 points or 1.36 percent at 13,603.88.

It was a different story in Tokyo where the Nikkei 225 dropped 104.09 points or 0.44 percent to 23,567.04.

Hong Kong's Hang Seng slipped 4.93 points or 0.02 percent to 24,537.33.

In Australia the All Ordinaries fell 38.80 points or 0.60 percent to 6,396.80.

Overnight on Wall Street, the Dow Jones industrials closed down 410.89 points, or 1.44 percent, at 28,195.42.

The Standard and Poor's 500 fell 56.89 points, or 1.63 percent, to 3,426.92.

The Nasdaq Composite lost 192.67 points, or 1.65 percent, to 11,478.88.

The U.S. dollar was mixed at the close of trading in Asia, and in early European trading Tuesday. The euro firmed to 1.1777. The British pound edged higher to 1.2945. The Swiss franc was solid at 0.9094. The Japanese yen however dipped slightly to 105.55.

The Canadian dollar was little changed at 1.3189. The Australian dollar softened to 0.7043, while the New Zealand dollar slipped to 0.6572.

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