Mon, 10 Aug 2020

Chinese stocks lead worldwide rally

Lola Evans
16 Apr 2019, 22:01 GMT+10

<p>SYDNEY, Australia - The Shanghai Stock Exchange was the star of the Asian market on Tuesday with the benchmark Shanghai Composite index rising 2.39%.</p><p>The closely-watched index rose 75.81 points to 3,253.30.</p><p>Elsewhere stocks rose across the board, and the mood was positive as trading moved to Europe where the London FTSE, German Dax and CAC 40 in Paris were all ratcheting up gains. Wall Street was also set to open in the black.</p><p>In Tokyo, the Nikkei 225 added 52.55 points or 0.24% to 22,221.66.</p><p>The Hong Kong Hang Seng advanced 319.15 points or 1.07% to 30,129.87.</p><p>The Australian All Ordinaries rose 24.40 points or 0.38% to 6,372.30.</p><p>The euro took a tumble in Asia but regained its composure in the European trading session. It was last quoted at 1.1302.</p><p>The British pound was unchanged at 1.3089, as was the Japanese yen at 111.91.</p><p>The Swiss franc edged up a fraction to 1.0058.</p><p>The Canadian dollar weakened slightly to 1.3377.</p><p>The Australian dollar was sold off after a Reserve Bank of Australia member raised the prospects of an interets rate cut if the economy doesn&#39;t start showing more traction. The Aussie was last quoted at 0.7154 after recovering some of its earlier losses.</p><p>The New Zealand dollar was softer in sympathy with its Tasman counterpart, last quoted Tuesday at 0.6754.</p><p>&nbsp;</p>

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