Tue, 24 Nov 2020

Global stocks meltdown has little impact on Asian markets

Lola Evans
29 Oct 2020, 17:57 GMT+10

SYDNEY, NSW, Australia - Asian investors on Thursday ignored the ructions overnight on Wall Street and around the globe, keeping losses to a minimum.

In China, the main index, the Shanghai Composite made a tiny gain, notching up three consecutive days of gains.

Overnight on Wall Street, the Dow Jones Industrial Average plummeted 943.24 points, or 3.43%, at 26,519.95.

The Standard and Poor's 500 fell 119.65 points, or 3.53%, to 3,271.03.

The Nasdaq Composite tumbled 426.48 points, or 3.73%, to 11,004.87.

In Asia however on Thursday the mood was more relaxed. The Nikkei 225 in Japan eased 86.57 points or 0.37 percent to 23,331.94.

The Hang Seng in Hong Kong dropped 107.82 points or 0.44 percent to 24,600.98.

The Australian All Ordinaries fared worst, falling 93.80 points or 1.50 percent to 6,168.00.

China's Shanghai Composite rose 3.49 points or 0.11 percent to 3,272.73.

On foreign exchange markets the U.S. dollar was softer, compared to it's New York close, but only by a fraction.

The euro last traded before the Sydney close Thursday at 1.1749. The British pound crept up to 1.3004. The Japanese yen remained robust at 104.26. The Swiss franc was little changed at 0.9098.

The Canadian dollar added a few points to 1.3298. The Australian and New Zealand dollars lacked demand, easing to 0.7064 and 0.6654 respectively.

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