Fri, 01 Jul 2022

Asian stocks advance as U.S. dollar retreats

Lola Evans
23 May 2022, 17:53 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia were mostly moderately higher at the close Monday, while the U.S. dollar was in retreat.

In Japan, the Nikkei 225 advanced 262.49 points or 0.98 percent to 27,001.52.

The Australian All Ordinaries shrugged off the weekend change of government, and the swearing-in of new Prime Minister Anthony Albanese on Monday, rising 7.90 points or 0.11 percent to 7,398.90.

China's Shanghai Composite inched up 0.29 of a point or 0.01 percent to 3,146.86.

In New Zealand, the S&P/NZX 50 climbed 49.07 points or 0.44 percent to 11,316.46.

South Korea's Kospi Composite gained 8.09 points or 0.31 percent to 2,647.38.

In Hong Kong, going against the trend, the Hang Seng down 275 pointsdeclined 247.18 points or 1.19 percent to 20,470.06.

On foreign exchange markets, the euro jumped to1.0602 by the Sydney close Monday. The British pound advanced to 1.2553. The Japanese yen strengthened to 127.65. The Swiss franc firmed to 0.9722.

The Canadian dollar rose to 1.2791. The Australian dollar was sharply higher at 0.7104. The New Zealand dollar was stronger at 0.6468.

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