Sat, 25 May 2019

Stocks in Asia largely unmoved

By Jay Jackson, Minneapolis News
22 Feb 2019, 16:29 GMT+10

SYDNEY, Australia - Stocks in Asia were a mixed bag on Friday as investors weighed up prospects for a trade deal involving the U.S. and China, and considered weak economic data coming out of both those countries.

Stocks in Japan were trending lower Friday, as they were in Hong Kong. However a late burst in China saw gains accelerate, while Hong Kong's Hang Seng which had spent most of the day in the red, catapulted into the black.

In Australia, there was demand pushing share prices higher as well.

By the close of trading Friday, the Australian All Ordinaries was up 27.30 points or 0.44% at 6,241.90.

In Tokyo, the Nikkei 225 closed down 38.72 points or 0.21% at 21,425.51.

China's Shanghai Composite put in a solid performance, ending Friday up 52.43 points or 1.91% at 2,2804.23.

The Hong Kong Hang Seng rallied towards the close allowing the index to finish the day and the week ahead by 186.38 points or 0.65% at 28,816.30.

On foreign exchange markets Friday the U.S. dollar retained its strength, with all the major currencies coming off just a tad, although the New Zealand dollar was sharply weaker.

Around the close in Sydney the euro had eased to 1.1335, while the British pound sagged to 1.3032.

The Japanese yen was little changed at 110.75, while the Swiss franc firmed to 1.0009.

The Canadian dollar dropped to 1.3223, whereas the Australian dollar eased to 0.7098.

The New Zealand dollar declined to 0.6770.

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