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 Central Asia Times.

More Information

null in null

International

Section

Croatian bus carrying Polish tourists crashes, 12 dead, 32 injured

ZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...

US, India to hold military exercise near disputed Chinese border

WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...

South Korea sends orbiter to moon, seeks to join exclusive club

SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...

Russian missile scientist charged with passing secrets to China

MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...

Citing safety of children, LA to move homeless away from schools

LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...

Former Puerto Rico governor Wanda Vazquez arrested on bribery charges

WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...

Asia

Section