Sat, 30 May 2020

Most markets in Asia rise Friday, ASX slips a little

By Jay Jackson, Barbados News.Net
15 Mar 2019, 16:51 GMT+10

SYDNEY, Australia - Chinese trade talks were again in focus on Friday, and the mood was good.

China's Vice Premier Liu He reportedly had discussions with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer by telephone on Friday, with both sides indicating substantive progress on trade was being made, according to a Xinhua news agency report on Friday.

In Japan the Nikkei 225 rose 163.83 points or 0.77% to close at 21,450.85 Friday.

At the close the Shanghai Composite was up 31.07 points or 1.04% at 3,021.75.

In Hong Kong the Hang Seng was ahead 160.86 points or 0.56% at 29,012.26.

The Australian All Ordinaries was the odd man out Friday, although its loss was minor. At the close of trading the benchmark index was down 1.70 points or 0.03% at 6,265.10.

On foreign exchange markets the U.S. dollar remained well bid. Close to the Sydney close on Friday, the euro was changing hands at 1.1317.

The British pound was steady at 1.3238, as was the Japanese yen at 111.67.

The Swiss franc fell to 1.0025. The Canadian dollar was litrle changed at 1.3307.

The Australian dollar gained a touch to 0.7084, while the New Zealand dollar, in the wake of horrific mass shootings in the country's third largest city, eased to 0.6848.

Overnight on Wall Street stocks were mixed. The Dow Jones industrials were ahead 7.05 points or 0.03% at the close, at 25,709.94.

The Standard and Poor's 500 lost 2.44 points or 0.09% to 2,808.48.

The Nasdaq Composite fell 12.50 points or 0.16% to 7,630.91.

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