Easing U.S. political tensions buoy Asian stock markets

Lola Evans
25 Nov 2020, 17:11 GMT+10

Shares in Tokyo, Sydney and Hong Kong staged major rallies.
China's Shanghai Composite however, once again, went against the trend.
The U.S. dollar remained exhausted. The euro crept up to 1.1892 by the close in Sydney.

SYDNEY, NSW, Australia - Asian stock markets celebrated the extraordinary milestone attained by the Dow Jones overnight, when it reached and surpassed the 30,000 level, to close above the crucial technical level for the first time.

Shares in Tokyo, Sydney and Hong Kong staged major rallies. China's Shanghai Composite however, once again, went against the trend.

At the close on Wednesday, the Nikkei 225 in Japan, was ahead 131.27 points or 0.26 percent at 26,296.86.

The Australian All Ordinaries rose 32.70 points or 0.48 percent to 6,888.20.

The Hong Kong benchmark index, the Hang Seng, rallied by 81.55 points or 0.31 percent to 26,669.95.

China's Shanghai Composite lost 40.50 poin ts or 1.19 percent to 3,362.33.

The U.S. dollar remained exhausted. The euro crept up to 1.1892 by the close in Sydney on Wednesday. The British pound remained well bid at 1.3340. The Japanese yen was little changed at 104.53. The Swiss franc too was unchanged at 0.9115.

The Canadian dollar eased a few points to 1.2032. The Australian dollar consolidated its recent gains, closing out the Asian session at 0.7334. The New Zealand dollar dipped a fraction to 0.6963.

Overnight on Wall Street, the Dow Jones finished up 454.97 points or 1.54 percent at 30,046.24.

The Nasdaq Composite added 156.15 points or 1.31 percent to 12,036.79.

The Standard and Poor's 500 gained 57.82 points or 1.67% percent to 3,635.41.

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