Asian markets take Wall Street cue and strengthen

By Jay Jackson, Sierra Leone Times
07 Dec 2018, 18:19 GMT+10

In Japan, the Nikkei 225 rallied 177.26 points or 0.82% to close at 21,678.68
In Australia, the All Ordinaries added 21.20 points or 0.37% to 5,757.90
The Shanghai Composite was more subdued, gaining just 0.71 of a point or 0.03% to 2,605.89

SYDNEY, Australia Asian investors on Friday began picking up the pieces after the crash of global markets overnight.

While Asian shares fell heavily on Thursday, the damage in Europe was far steeper, with all indices shedding more than 3% of their value.

Wall Street stopped the rot however with only minor losses, and a gain by the Nasdaq.

So, eyes on Friday turned to Asia, and by the close of trading Friday, investors and traders were breathing a sigh of relief.

In Japan, the Nikkei 225 rallied 177.26 points or 0.82% to close at 21,678.68.

In Australia, the All Ordinaries added 21.20 points or 0.37% to 5,757.90.

The Shanghai Composite was more subdued, gaining just 0.71 of a point or 0.03% to 2,605.89.

In Hong Kong Friday, the Hang Seng went against the trend, losing 92.62points or 0.35% at 26,063.76.

The U.S. dollar was little changed, although it gained against the Australian dollar. In late trading in Sydney on Friday the euro was quoted at 1.1373. The Japanese yen was changing hands at 112.78, and the British pound at 1.2766.

The Swiss franc was quoted at 0.9928, while the Canadian dollar remained weak at 1.3391.

The Australian dollar slipped to 0.7215, while the New Zealand dollar inched down to 0.6875.

Overnight on Wall Street, the Dow Jones industrials were down 79.40 points or 0.32% at 24,947.67.

The Standard and Poors 500 lost 4.11 points or 0.15% to 2,695.95.

The Nasdaq Composite gained 29.83 points or 0.42% to 7,188.26.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sierra Leone Times.

More Information

31 ℃

Freetown

Business

Section

Saudi Arabia cements trade with China in $10 billion refinery plan

BEIJING, China - Saudi Arabia has cemented trade ties with China with the move by Saudi Aramco to enter into ...

Bourses in Asia end week on indecisive note

SYDNEY, Australia - Stocks in Asia were a mixed bag on Friday as investors weighed up prospects for a trade ...

Data protection and analytics conference to be staged in Ireland

DUBLIN, Ireland – Truata which officially opened its new headquarters in Dublin on Wednesday, has said it is organising a ...

U.S. stocks dip after data showing economy slowing

NEW YORK, New York - Three separate pieces of economic data tabled on Thursday put pay to this week's rally on U.S. ...

European carmakers could be hit with tariffs, warns Trump

WASHINGTON DC - U.S. President Donald Trump has hinted he may be about to open a new front in his ...

Asian stocks stronger, Aussie dollar slips

SYDNEY, Australia - Stocks in Asia rose across the board on Thursday with news oiut of Washington that U.S. and ...

Africa

Section

Movie Review

Detroit [Blu-Ray]

Featured story

Ireland's Keywords Studios acquires Canada's Snowed In

DUBLIN, Ireland - Following its successful acquisition of Hollywood-based Blindlight, Irish video-gaming company Keywords Studios has now announced its latest accomplishment. Keywords r ...