Tue, 20 Aug 2019

Asian stocks rise, Hong Kong leads the way

Lola Evans
10 Jun 2019, 18:51 GMT+10

HONG KONG, China - Shares in Hogn Kong jumped more than 500 points on Monday, pushing the Hang Seng index up more than 2%.

Shares in Asia generally were strong after the late Friday night deal between Mexico and the U.S. ,resolving a dispute which threatened new tariffs being imposed from Monday.

A powerful improvement in Chinese exports also aided markets in the region.

The Australian market was closed due to the Queen's birthday being celebrated in New South Wales and Victoria.

The U.S. dollar regained a portion of last week's losses in a strong rebound, particularly against the euro and the yen.

At the close of trading in Hong Kong on Monday, the Hang Seng was ahead 548.08 points or 2.03% at 27,513.36.

In Japan, the Nikkei 225 jumped 249.71 points or 1.20% to 21,134.42.

The Shanghai Composite meantime gained 27.76 points or 0.98% to 2,855.56.

The euro dropped to 1.1296 in late trading in Hong Kong on Monday. Earlier the EU unit hit a high of 1.1331.

The British pound eased to 1.2718, while the Japanese yen weakened to 108.67.

The Swiss franc fell to 0.9907.

The Australian dollar was a third-of-a-cent weaker at 0.6964.

The New Zealand dollar fell a fraction to 0.6617.

The Canadian dollar went against the trend, rising strongly to 1.3270.

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