Tue, 21 May 2019

Asian stock markets make tidy gains

By Jay Jackson, Abu Dhabi News
19 Nov 2018, 18:26 GMT+10

SYDNEY, Australia Stocks on Asian market largely rose on Monday, despite back-and-forth jabs from both China and the United States on their relations on trade.

President Donald Trump on Friday foreshadowed an agreement which would prevent a new round of trade tariffs planned, but Vice President Mike Pence put on a good show at the APEC conference on the weekend of giving every indication the disagreements remain.

The Australian stock market was the odd-man-out Monday, losing ground, although moderately.

The U.S. dollar was a fraction higher through the Asian session but the majors remained well bid.

At the close of trading Monday, the Nikkei 225 was ahead 140.82 points or 0.65% at 21,821.16.

In China, the Shanghai Composite rose 24.40 points or 0.91% to 2,703.51.

The Australian All Ordinaries slipped 36.40 points or 0.63% to 5,786.

At the close of trading in Hong Kong, the Hang Seng was up 188.47points or 0.72% at 26,372.00.

On foreign exchange markets the euro consolidated above the 1.1400 level.

Out of the Asian session and into early trading in Europe, the EU unit was quoted at 1.1407.

The Japanese yen was stronger at 112.74, while the Swiss franc was changing hands at 0.99948.

The Canadian dollar was at 1.3163, and the Australian dollar at 0.7314. The New Zealand dollar was a tad weaker at 0.6848.

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