Mon, 18 Nov 2019

Buying support for Japanese stocks continue

Lola Evans
06 Nov 2019, 17:25 GMT+10

SYDNEY, Australia - Japanese stocks again climbed on Wednesday, while elsewhere investors remained sidelined.

The Nikkei 225 in Tokyo however was more subdued Wednesday. On the back of a 401 points rise a day earlier, the key index could only manage a 51.83 points, or 0.22%, gain on Wednesday. The key index closed at 23,303.82.

The Shanghai Composite fell 38.40 points or 0.56% to 6,773.20.

The Australian All Ordinaries declined 12.97 points or 0.43% to 2,978.60.

Forex markets were relatively quiet. The euro ticked up after German Factory Orders data showed an increase of 1.3% in September, which was better than expected. The euro last traded towards the Sydney close on Wednesday at 1.1075.

The British pound was steady at 1.2874. The Japanese yen surprisingly appreciated to 108.97. The Swiss franc was little changed at 0.9930.

The Canadian dollar weakened to 1.3168. The Australian dollar fell to 0.6887. The New Zealand dollar was sharply weaker at 0.6361 as unemployment rose slightly more than anticipated.

Overnight on Wall Street, the Dow Jones Industrial Average was up 76.89 points, or 0.28%, at 27,539.

The Standard and Poor's 500 was virtually unchanged, down 0.29 of a point, or 0.01%, at 3,077.98.

The Nasdaq Composite jumped 11.89 points, or 0.14%, to 8,445.09.

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