Stocks in Asia struggle for direction, Australian shares edge up

Lola Evans
02 Aug 2022, 17:37 GMT+10

Stocks in Asia were mostly lower on Tuesday.
The exceptions were the Trans-Tasman duo, the Australian and New Zealand share markets.
In Australia, the Reserve Bank hoisted official interest rates by 0.50 percent to 1.85 percent.

SYDNEY, NSW, Australia - Stocks in Asia were mostly lower on Tuesday.

The exceptions were the Trans-Tasman duo, the Australian and New Zealand share markets, both of which edged higher.

In Australia, the Reserve Bank hoisted official interest rates by 0.50 percent to 1.85 percent. It was the fourth monthly increase in a row.

The Australian All Ordinaries gained 3.40 points or 0.05 percent to 7,216.40. The Australian dollar, however, dropped like a stone, shedding nearly a full cent of its value. The Aussie last traded around the Sydney close Tuesday at 0.6934.

In New Zealand, the S&P/NZX 50 added 6.59 points or 0.52 percent to 11,532.46. The New Zealand dollar weakened sharply to 0.6286.

In Japan, the Nikkei 225 shed 398.62 points, or 1.42 percent to 27,594.73. The Japanese yen however rose strongly to 130.76.

South Korea's Kospi Composite let go 12.63 points or 0.52 percent to 2,439.62.

In China, the Shanghai Composite weakened by 73.69 points or 2.26 percent to 3,186.27.

In Hong Kong, the Hang Seng lost 476.63 points or 2.36 percent, to close Tuesday at 19,689.71.

The euro was softer at 1.0238 around the Sydney close Tuesday. The British pound eased to 1.2207. The Swiss franc edged down to 0.9515.

The Canadian dollar dropped to 1.2873.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Scotland Star.

More Information

13 ℃

Cloudy in Edinburgh

UK

Section

UK's Horniman Museum to return 72 artifacts to Nigeria

LONDON, England: Following a request by Nigeria's National Commission for Museums and Monuments, the Horniman Museum in London has agreed ...

Ireland's narcotics trader, Michael McDonagh, beaten to death after football match

SUSSEX, UK - After a Premier League game, a fight broke out, leading to the murder of an Irish drug ...

Canada sends 225 soldiers to help train Ukrainian forces

OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...

As Heathrow reduces passengers, British Airways stops selling tickets

LONDON, England: British Airways has halted ticket sales for short-haul flights that depart before the middle of August from London's ...

US baseball teams to play for UK crowd in London in 2023

LONDON, England: In 2023, America's Major League Baseball is set to return to London for the first time since 2019, ...

A Race Against Time: The Last Days Of Lysychansk

As Russian forces advanced in Ukraine's eastern Donbas region, volunteers raced against time under deadly fire to convince the last ...

International

Section