Mon, 19 Aug 2019

Sellers take charge on Asian markets on Tuesday

Lola Evans
16 Jul 2019, 18:09 GMT+10

SYDNEY, Australia - Stocks skidded in Asia on Tuesday with falsl recorded across the board.

The U.S. dollar continued to gain ground, pushing the eureo below 1.1§250, and the pound below 1.2500.

In Tokyo, the Nikkei 225 plummeted 150.65 points or 0.69% to 21,535.25.

China's Shanghai Composite dropped 4.57 points or 0.16% to 2,937.62.

The Australian All Ordinaries fell 10.40 points or 0.15% to 6,735.80.

On foreign exchange markets, the major currencies lost ground as the U.S. dollar continued to flex its muscles, this despite rhetoric from U.S. Preswident Donald Trump that he is preparing a major move to devalue the currency.

Around the Sydney close on Tuesday the euro had drifted down to 1.1247. The British pound was sharply lower at 1.2471.

The Japanese yen slipped to 108.06. The Swiss franc weakened to 0.9842.

The Canadian dollar slid to 1.3063. The Australian and New Zealand dollars were slightly softer at 0.7028 and 0.6725 respectively.

Overnight on Wall Street, the Dow Jones industrials were up 27.13 points or 0.10% at 27,359.16.

The Standard and Poor's 500 gained just 0.53 of a point or 0.02% to 3,014.30, weighed down by a slide in banking stocks.

The tech-laden Nasdaq rose 14.04 points or 0.17% to 8,258.19.

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