Mon, 27 Jan 2020

Tokyo Nikkei 225 jumps sharply

By Jay Jackson, Mississippi State News.Net
12 Feb 2019, 16:22 GMT+10

SYDNEY, Australia - There was a rally in stocks in Asia on Tuesday with the only news being that U.S. lawmakers have reached a deal on border security which could avert another shutdown. The deal has yet to be agreed with President Donald Trump.

A major fall in the Japanese yen overnight, which extended further in Asia on Tuesday contributed to a sharp rally in Japanese stocks. Japan's markets were closed on Monday for a public holiday so it appears there was pent up demand when traders returned to their desks on Tuesday.

At the close of Trading on Tuesday in Tokyo the Nikkei 225 was up 531.04 points or 2.61% at 20,864.21.

At the close of trading Tuesday, the Australian All Ordinaries was ahead 20.10 points or 0.33% at 6,148.70.

In Hong Kong, the Hang Seng was down slightly in late afternoon trade. The index was off 15.18 points or 0.05% at 28,128.66.

In China, the Shanghai Composite, in late trade was up 8.19 points or 0.31% at 2,662.08.

The U.S. dollar retained its strength against the majors, however it lost a little ground against two of the commodity currencies.

Around the close in Sydney on Monday the euro was weak at 1.1279, as was the British pound at 1.2864.

The Japanese yen tumbled to 110.56.

The Swiss franc weakened further from its New York close. It was last quoted at 1.0045.

The Canadian dollar strengthend marginally to 1.3293, as did the Australian dollar to 0.7075.

The New Zealand dollar surprisingly fell to 0.6724.

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