Fri, 10 Jul 2020

Asian markets rise with exception of Hong Kong Hang Seng

Lola Evans
28 May 2020, 20:47 GMT+10

SYDNEY, Australia - Stocks in Asia were higher on Thursday, although in Hong Kong there was little rookm for celebration.

China on Thursday overwhelmingly voted to approve new security laws, whoich will be enacted by August or September.

"The law will not affect the rights and freedoms enjoyed by Hong Kong residents," Hong Kong's leader Carrie Lam, who has the support of Beijing, said in a statement released on Thursday after the vote.

Activists working for democracy in Hong Kong however were bitterly disappointed by the vote.

The Hong Kong Hang Seng closed lower however the losses were not significant. The key index lost 168.60 points or 0.72% to 23,132.76.

In Japan the contrast was obvious. The Nikkei 225 jumped 497.08 points or 2.32% to 21,916.31.

China's Shanghai Composite gained 9.42 points or 0.33% to 2,846.72.

The Australian All Ordinaries gained 72.90 points or 1.24% to 5,957.80.

The U.S. dollar was mixed. The euro hovered around the 1.1000 level, seeing out the Asian session at 1.1004, an eight-week high. The British pound was a fraction lower at 1.2247.

The Japanese yen was largely unchanged at 107.73. The Swiss franc eased to 0.9699.

The Canadian dollar was notionally easier at 1.3780. The Australian dollar dipped to 0.6606. The New Zealand dollar was unchanged at 0.6181.

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