Fri, 24 May 2019

Stocks rise across board in Asia

Lola Evans
15 May 2019, 17:55 GMT+10

SYDNEY, Australia - Asian stock markets rallied on Wednesday, continuing a global trend which began Tuesday, and helped along by more positive comments from U.S. President Donald Trump on the ongoing trade negotiations with China.

The Nikkei 225 in Japan gained 121.33 points or 0.58% to 21,188.56.

China's Shanghai Composite appreciated by 55.07 points or 1.91% to 2,938.68.

The Australian All Ords added 43.70 points or 0.69% to 6,370.90.

The U.S. dollar retained its strength in Asia on Wednesday. The euro remained cowered around 1.1205. The British pound was weak, albeit a few basis points higher at 1.2915.

The Japanese yen rose a tad to 109.53.

The Swiss franc was also a touch stronger at 1.0068.

The Commodity currencies all weakened. The Canadian dollar fell to 1.3475. The Australian dollar continued its slide to 0.6922. The New Zealand dollar fell to 0.6562.

Overnight on Wall Street, the Dow Jones Industrial Average climbed 207.19 points or 0.82% to close Tuesday at 25,532.18.

The Standard and Poor's 500 jumped 22.56 points or 0.80% to 2,834.43.

The Nasdaq Composite which had fared worst in Monday's bloodbath, did best in the recovery too. The tech-laden index rose  87.47 points or 1.14% to 7,734.49.

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