Asian stock markets join global rally, Japan's Nikkei 225 gains 177 points

Lola Evans
27 May 2022, 17:41 GMT+10

Stocks in Asia were stronger across the board on Friday, following a two-day surge on Wall Street.
The U.S. dollar remained on the sidelines, pressured by recent losses.
In Japan, the Nikkei 225 advanced 176.84 points or 0.66 percent to 26,781.68.

SYDNEY, NSW, Australia - Stocks in Asia were stronger across the board on Friday, following a two-day surge on Wall Street.

The U.S. dollar remained on the sidelines, pressured by recent losses.

The Hang Seng in Hong Kong did best of the equity markets, gaining 581.16 points or 2.89 percent to close Friday at 20,697.37.

In Japan, the Nikkei 225 advanced 176.84 points or 0.66 percent to 26,781.68.

China's Shanghai Composite added 7.13 points or 0.23 percent to 3,130.24.

The Australian All Ordinaries gained 73.80 points or 1.01 percent to 7,413.10.

South Korea's Kospi Composite rose 25.60 points or 0.98 percent to 2,638.05.

In New Zealand, the S&P/NZX 50 went against the trend, declining 37.69 points or 0.34 percent to 11,065.15.

On foreign exchange markets, the euro strengthened to 1.0743 Friday. The British pound rose to 1.2621. The Japanese yen edged up to 127.16. The Swiss franc was little changed at 0.9599.

The Canadian dollar advanced to 1.2757. The Australian and New Zealand dollars were sharply higher at 0.7133 and 0.6506 respectively.

Overnight on Wall Street, the Nasdaq Composite rallied 305.91 points or 2.68 percent to 11,740.65.

The Standard and Poor's 500 jumped 79.13 points or 1.99 percent to 4,057.84.

The Dow Jones industrials accelerated 516.91 points or 1.61 percent to 32,367.11.

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