Fri, 23 Oct 2020

Chinese stocks perform best on Asian markets Friday

Lola Evans
18 Sep 2020, 18:34 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia broadly rose on Friday in a positive end to the week.

The Australian bourse however lagged the rest of the market.

At the close of trading Friday the Nikkei 225 in Tokyo was ahead 40.93 points or 0.18 percent at 23,360.30.

China's Shanghai Composite was the region's best performer Friday, rising 67.65 points or 2.07 percent to 3,338.09.

In Australia the All Ordinaries index fell 11.60 points or 0.19 percent to 6,057.60.

Hong Kong's Hang Seng jumped 90.72 points or 0.37 percent to 24,431.57.

The U.S. dollar was sold off across the board, adding to losses overnight. The euro was consolidating above the 1.1850 level. It last traded in Sydney before the close on Friday at 1.1853.

The British pound rose to 1.2984. The Japanese yen was stronger at 104.58. The Swiss franc rose to 0.9083.

The Canadian dollar edged up to 1.3161. The Australian dollar inched higher to 0.7316. The New Zealand dollar added to its impressive overnight gains, to reach 0.6785.

Overnight on Wall Street, the Dow Jones Industrial Average slipped 130.40 points, or 0.47 percent, to 27,901.98. The S&P 500 fell 28.48 points, or 0.84 percent, to 3,357.01. The Nasdaq Composite Index decreased 140.19 points, or 1.27 percent, to 10,910.28.

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