Tue, 26 May 2020

Nikkei 225 advances, elsewhere Asian stocks sag

By Jay Jackson, Nigeria News.Net
20 Mar 2019, 16:47 GMT+10

SYDNEY, Australia - Asian bourses were mixed on Wednesday with Australian and Chinese indices trading in the red, while markets in Japan were bought up.

The U.S. dollar was also mixed, gaining ground against the commodity currencies and the Japanese yen, and remaining steady against the European and UK currencies.

In Australia, the All Ordinaries closed down 24.80 points or 0.40% at 6,251.80.

The Tokyo-based Nikkei 225 advanced by 42.07 points or 0.20% to 21,608.92.

China's Shanghai finished virtually unchanged, down 0.33 of a point or 0.01% at 3,090.64.

In Hong Kong, the Hang Seng was off 145.30 points or 0.49% at 29,320.97.

On foreign exchange markets, the euro was last quoted at 1.1348 around the Sydney close.

The British pound eased a few basis points to 1.3252. The Japanese yen weakened a touch to 111.55, while the Swiss franc was little changed at 0.9995.

The Canadian dollar was slightly weaker at 1.3331, as was the Australian dollar at 0.7079 and the New Zealand dollar at 0.6837.

Overnight on Wall Street, stocks were mixed oalthough moves in either direction were unremarkable.

Holding investors hostage were rumors that the U.S. trade negotiations with China had hit a patch of stormy weather.

"Trade fear has reared its head again with Trump administration concerns (that) China is walking back some of the pledges they've made in negotiations so far," Chris Zaccarelli, chief investment officer at Alliance in Charlotte, NC told the Reuters Thomson news agency Tuesday.

At the close of trading Tuesday, the Dow Jones industrials were down 26.72 points or 0.10% at 25,887.38.

The Standard and Poor's 500 was down 0.37% or 0.01% at 2,832.57.

The Nasdaq Composite, going against the trend, rose 9.47 points or 0.12% to 7,723.95.

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