Thu, 13 May 2021

SYDNEY, NSW, Australia - The tanking Japanese economy, and fears the first quarter's GDP may have sunk by 5 percent, put the skids under the benchmark Nikkei 225 on Tuesday.

Shares in China also fell, while in Hong Kong and Australia, modest gains were made.

The Nikkei 225 finished down 241.37 points or 0.83 percent at 28,812.63.

China's Shanghai Composite dropped 28.04 points or 0.81 percent to 3,446.86.

The Australian All Ordinaries, going against the trend, added 36.70 points or 0.50 percent to 7,323.50.

In Hong Kong, the Hang Seng rose 199.60 points or 0.70 percent to 28,557.14.

On foreign exchange markets, the U.S dollar trend reversed. After losing ground a day earlier, the greenback rebounded during the Asian session Tuesday. The euro fell to 1.2021. The British pound slipped to 1.3861. The Japanese yen slid to 109.41, while the Swiss franc eased to 0.9143.

The Canadian dollar weakened to 1.2307. The Australian and New Zealand dollars finished the day sharply weaker at 0.7721 and 0.7158 respectively.

Overnight on Wall Street, the Dow Jones industrials jumped 238.38 points or 0.70 percent to 34,113.23.

The Standard and Poor's 500 added 11.49 points or 0.27 percent to 4,192.66.

The tech-laden Nasdaq Composite, going against the trend, shed 67.56 points or 0.48 percent to 13,895.12.

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