Asian markets take Wall Street cue and strengthen

By Jay Jackson, Travel Trade
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 Travel Trade.

More Information

30 ℉

Washington

Business

Section

Irish and French ministers confer on post-Brexit fishing

DUBLIN, Ireland - Ireland's Minister for Agriculture, Food and the Marine Michael Creed met up with Jean-Yves Le Drian, the ...

Markets across Asia record solid gains

SYDNEY, Australia - Investors ansd traders in Asia were in a good mood Wednesday sending all the major indices out ...

Recovery of Dubai real estate not likely before 2022, says S&P

DUBAI, UAE - The property market in Dubai has been sinking since 2014, and is likely to remain depressed for ...

U.S. stocks close slightly ahead, dollar gives up gains

NEW YORK, New York - Wall Street continued its rally on Tuesday, although gains were modest. The big action on ...

'America does not represent the world,' says Huawei chief

LONDON, UK - The founder of Huawei has hit back at U.S. criticism of his company, accusing the United States ...

Japanese, Chinese and Australian shares rise Tuesday

SYDNEY, Australia - Stocks in Asia were broadly higher on Tuesday, adding to gains of a day earlier. In Hong ...

Airlines

Section

Movie Review

The Thing (1982) [Blu-Ray]

Thing (1982)

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 ...