Wed, 27 May 2020

SYDNEY, NSW, Australia - Asian stock markets continue to follow a different playbook to the U.S. and Europe on Wednesday.

Despite overnight losses on Wall Street, in the UK, and Europe, Asian markets mostly gained. The exception was mainland China where the key index recorded a modest loss.

The dollar was volatile, maintaining losses against most currencies other than the Japanese yen.

In Japan the Nikkei 225 added 161.70 points or 0.79% to 20,595.15.

The Hong Kong Hang Seng rose 11.82 points or 0.05% to 24,399.95.

The Australian All Ordinaries climbed 21.30 points or 0.38% to 5,680.10.

China's Shanghai Composite, going against the trend, slipped 14.84 points or 0.51% to 2,883.74.

The euro retained recent strength throughout the Asian session, ending the date late in Sydney around 1.0944. The British pound spent the day consolidating at 1.2236. The Japanese yen remained on the outer, fetcing 107.70. The Swiss franc was stronger at 0.9683.

The Canadian dollar inched up to 1.3928. The Australian dollar was little changed at 0.6543. The New Zealand dollar firmed to 0.6103.

Overnight on Wall Street, the Dow Jones Industrial Average lost 390 points, or close to 1.6%, to close at 24,206.

The S&P 500 was down 1%, nearly 31 points, ending at 2,922.

The Nasdaq Composite was down 0.5%, or 49 points, to settle at 9,185 at the closing bell.

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