Thursday, 10 February 2022 06:31

Stock markets in Asia flounder despite Wall Street rally

SYDNEY, NSW, Australia — Stocks in Asia were split on Thursday. In Japan, South Korea, and Australia, the main indices made modest gains, whilst elsewhere stocks drifted lower.

The Australian All Ordinaries gained 22.70 points or 0.30 percent, to close Thursday at 7,595.50.

In New Zealand, despite trading in the black most of the day, the S&P/NZX50 slipped into the red in the final minutes of trading Thursday. The key index fell 20.90 points or 0.17 percent to 12,413.05.

Tokyo’s Nikkei 225 rose 116.21 points or 0.42 percent to 27,696.08.

The South Korean Kospi Composite edged up 5.46 points or 0.20 percent to 2,774.31.

In Hong Kong, the Hang Seng was 48 points lower in late trade. China’s Shanghai Composite was off 6 points in the final half-hour of trading.

The U.S. dollar was little changed during Asian trading On Thursday. The euro hovered around 1.1426 at the Sydney close. The British pound was unchanged at 1.3533. The Japanese yen was a little lower at 115.64. The Swiss franc was unmoved at 0.9242.

The Canadian dollar inched up to 1.2675. The Australian and New Zealand dollars were firm but little changed at 0.7172 and 0.6682 respectively.

Overnight on Wall Street, the Nasdaq Composite surged 295.92 points or 2.08 percent to 14,490.37.

The Dow Jones industrial advanced 305.28 points or 0.86 percent to 35,768.06.

The Standard and Poor’s 500 added 65.64 points or 1.45 percent to 4,587.18.