Tue, 14 Jul 2020

Shares in Asia lose more ground, Japan drops 2.13%

Lola Evans
27 Feb 2020, 17:02 GMT+10

SYDNEY, NSW, Australia - It was another bearish day on Asian stock markets on Thursday.

Global markets continue to lose ground with Reuters Thomson putting the total losses across the world at $3.6 trillion.

There has been a push to buy the euro, the Japanese yen, and U.S. treasuries. The demand for treasuries has pushed interest rates sharply lower.

"The news seems to be creating this mass hysteria everywhere, there's panic that the world's about to end, so people are getting out of risk and putting their money in safe havens and the biggest one of those are 10-year Treasury bond," Stuart Oakley, Nomura's global head of flow FX in Singapore told Reuters Thomson Thursday.

At the close in Tokyo, the Nikkei 225 was down 477.96 points or 2.13% at 21,948.23.

The Australian All Ordinaries lost 53.30 points or 0.78% to 6,737.40.

China's Shanghai Composite was litrle changed, heading for a flat close.

The Hang Seng in Hong Kong was down more than 200 points in late trading.

The euro rose sharply to 1.0916. The British pound was modestly ahead at 1.2935. The Japanese yen jumped to 110.06.

The Swiss franc was a tad higher at 0.9729.

The Canadian dollar weakened to 1.3336. The Australian dollar was little changed from its New York close at 0.6554. The New Zealand dollar sank to 0.6295.

Overnight on Wall Street, the Dow Jones industrials were down 123.77 points o 0.46% at 26,957.59.

The Nasdaq Composite was ahead 15.16 points or 0.17% at 8,980.77.

The Standard and Poor's 500 was down 11.82 points or 0.03% at 3,116.39.

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