Sat, 04 Dec 2021

Stocks in Asia advance, Aussie market the exception

Lola Evans
11 Oct 2021, 16:38 GMT+10

SYDNEY, NSW, Australia - Stock markets in Asia were mixed on Monday with most bourses losing ground early, but recovering later in the day.

Only the Australian market ended lower.

Foreign currency markets saw the U.S. dollar lose ground, except against the Japanese yen which fell sharply.

"Bond yields continue to push higher, inflation expectations are rising and monetary tightening in various guises is becoming more prevalent," ANZ analysts said in a note.

"The global chips shortage will extend well into next year, adding further uncertainty to uneven recoveries," the analysts said. "Add in energy shortages, and the economic landscape is materially more sober than the optimism that accompanied the early stages of global recovery."

At the close, on Monday the Australian All Ordinaries was 16.20 points or 0.21 percent lighter at 7,601.10.

The Nikkei 225 in Japan was solidly higher, adding 449.26 points or 1.60 percent to close at 28,498.20.

China's Shanghai Composite was flat, dipping just 0.46 of a point or 0.01 percent to 3,591.71.

The Hang Seng in Hong Kong advanced 487.24 points or 1.96 percent to 25,325.09.

The euro edged up to 1.1581 by the Sydney close Monday. The British pound firmed to 1.3652. The Swiss franc was unchanged at 0.9275.

The Canadian dollar edged higher to 1.2459. The Australian dollar was in demand at 0.7332. The New Zealand dollar inched up to 0.6936.

The Japanese yen conversely tumbled to 112.69.

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