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Asian Stocks weakens after Wall Street closed due to dipped dollar

Syed Umarullah HussainiWeb Editor

01st Sep, 2020. 07:27 am
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Asian stock market

Asian Stocks weakened on Tuesday after Wall Street closed due to dipped dollar, with a prediction that rate to stay low for extended period.

According to the details, Australia’s S&P/ASX 200 lost 0.89% in Tuesday trading, while Japan’s Nikkei 225 fell 0.22%, Hong Kong’s Hang Seng index futures lost 0.38%.

The Dow Jones Industrial Average and the S&P 500 ended in the red,

While the Nasdaq rose solidly. The S&P gained more than 7% for the month to notch its best August since 1986 in what is traditionally a softer month for stock performance.

In Asia, China’s Caixin manufacturing purchasing managers’ index

The Dow Jones Industrial Average fell 0.79%, the S&P 500 lost 0.23%, and the Nasdaq Composite added 0.68%.

The dollar edged lower against a basket of major currencies early on Tuesday. The dollar index fell 0.08%, with the euro up 0.02% to $1.1938.

Monday Trading

In Japan, the Nikkei 225 gained 1.9% while the Topix index advanced 1.81%, after losses on Friday as longstanding Prime Minister Shinzo Abe announced a surprise resignation on Friday due to health issues.

Developments in Japanese politics continued to be watched by investors on Monday, as the search for the country’s new prime minister continues.

The Japanese yen traded at 105.53 per dollar, after strengthening sharply from levels above 106.5 against the greenback late last week.

Meanwhile, South Korea’s Kospi rose 0.39%.

The S&P/ASX 200 in Australia added 0.28%.

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