Tue, 26 May 2020

Dollar continues down in Asia, stocks sidelined

Lola Evans
25 Jun 2019, 17:45 GMT+10

SYDNEY, Australia - Stocks across the Asian region finished in the red on Tuesday.

The widespread losses, all relatively modest except for Hong Kong, followed a listless day on Wall Street.

The U.S. dollar continued to fall in the expectation that the Federal Reserve may soon reduce official interest rates.

In Japan, the Nikkei 225 lost 92.18 points or 0.43% to 21,193.81.

The Australian All Ords fell 11.00 points or 0.16% to 6,734.50.

In China, the Shanghai Composite shed 26.07 points or 0.87% to 2,982.07.

The euro rose strongly to be challenging the 1.1400 handle. Around the close in Sydney on Tuesday the euro was fetching 1.1392.

The British pound strengthened to 1.2761, while the Japanese yen rose to 106.97.

The Swiss franc firmed to 0.9736.

The Canadian dollar was in demand at 1.3183. The Australian dollar too was bought up, it was last quoted at 0.6963.

The New Zealand dollar rebounded as well, last being traded at 0.6642.

Overnight on Wall Street, the Dow Jones industrials gained 8.41 points or 0.03% to 26,727.54.

THe Standard and Poor's 500 lost 5.11 points or 0.17% to 2,945.35.

The Nasdaq Composite dropped 26.01 points or 0.32% to 8,005.70.

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