Wed, 01 Dec 2021

Stocks in Asia divided, dollar continues to slide

Lola Evans
14 Oct 2021, 17 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia were evenly divided Thursday.

In Japan, in particular, and in Australia, equity markets rallied.

In mainland China, and Hong Kong stocks were flat.

The China Evergrande situation continues to rattle property stocks in China as the embattled Evergrande group continues to miss interest payments. Loaded up with $305 billion worth of debt the company is desperately trying to restructure or sell off assets. This has caused uncertainty for other property developers, causing their shares to fall.

In Tokyo, the Nikkei 225 jumped 410.65 points or 1.46 percent to 28,550.93.

The Australian All Ordinaries garnered 48.30 points or 0.64 percent to 7,620.20.

The Shanghai Composite in China slipped 3.48 points or 0.10 percent to 3,558.28.

The Hang Seng in Hong Kong incredibly lost just one-hundredth of a single point to 24,962.59.

The U.S. dollar continued to lose ground during Asian trading.

The euro climbed to 1.1598 around the Sydney close Thursday. The British pound swelled to 1.3683. The Japanese yen edged up to 113.48. The Swiss franc firmed to 0.9219.

The Canadian dollar was higher at 1.2404. The week-long rally in the Australian dollar continued, with the Aussie closing out the day in Australia at 0.7393. The New Zealand dollar had a good day, rising to 0.6989.

Overnight on Wall Street, the Nasdaq Composite rose 105.71 points or 0.73 percent to 14,571.63.

The Standard and Poor's 500 edged up 13.15 points or 0.30 percent to 4,363.80.

The Dow Jones dipped just 0.43 of a single point to 14,571.63.

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