Sat, 05 Dec 2020

Asian markets quiet,Australian investors take profits

Lola Evans
27 Oct 2020, 18:09 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia were relatively quiet on Tuesday compared to the volatility and substantive sell-offs on global markets overnight.

The Dow Jones Industrial Average dropped 650.19 points, or 2.29 percent, to 27,685.38.

The Standard and Poor's 500 decreased 64.42 points, or 1.86 percent, to 3,400.97.

The Nasdaq Composite Index fell 189.34 points, or 1.64 percent, to 11,358.94.

Heavy falls were also recorded in Europe, particularly in Germany where the Dax shed 3.71 percent.

In Asia however, the mood was more relaxed. The Nikkei 225 in Tokyo slipped just 8.54 points or 0.04 percent to close Tuesday at 23,485.80.

China's Shanghai Composite rose 3.20 points or 0.10 percent to 3,254.37.

In Hong Kong, the Hang Seng dropped 173.01 points or 0.70 percent to 24,744.77.

The Australian All Ordinaries was the hardest hit, losing 110.10 points or 1.73 percent to 6,247.20.

The euro was little changed at 1.1821. The British pound finished the day in Sydney Tuesday around 1.3020. The Japanese yen was little changed at 104.81. The Swiss franc changed hands at 0.9076.

The Canadian dollar edged up a few points to 1.3180. The Australian dollar too wa sa td higher at 0.7126. The New Zealand dollar rose a fraction to 0.6687.

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