Thu, 13 May 2021

Asian markets have quiet days, Tokyo stocks slump

Lola Evans
23 Apr 2021, 17:11 GMT+10

SYDNEY, NSW, Australia - Asian stocks were mixed on Friday despite solid losses on Wall Street.

U.S. markets were hit with reports the Biden administration is going to introduce new hefty capital gains taxes.

Shares in Japan fell while in China and Hong Kong the mood was more positive. The Australian market was flat, rising just a few points.

In Tokyo, the Nikkei 225 declined 167.54 points or 0.57 percent to 29,020.63.

The Australian All Ordinaries edged up 8.70 points or 0.12 percent to 7,320.70.

In Hong Kong, the Hang Seng, jumped 323.41 points or 1.12 percent to 29,078.75.

China's Shanghai Composite added 9.05 points or 0.26 percent to 3,474.17.

The U.S. dollar drifted lower. The euro nudged up to 1.2035 Friday in Asia. The British pound was little changed at 1.3858. The Japanese yen firmed to 107.90. The Swiss franc was unchanged at 0.9164.

The Canadian dollar strengthened to 1.2486. The Australian and New Zealand dollars were a fraction stronger at 0.7727 and 0.7175 respectively.

Overnight on Wall Street, the Dow Jones industrials dropped 321.41 points or 0.94 percent to 33,815.90.

The Standard and Poor's 500 declined 38.44 points or 0.92 percent to 4,134.98.

The Nasdaq Composite lost 131.82 points or 0.94 percent to 13,818.41.

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