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 Sports Sun.

More Information

26 ℃

Mostly Cloudy in Seletar

US Sports

Section

Pirates eye chance to split 4-game set with Diamondbacks

The Pittsburgh Pirates are fresh off a rare win over the Arizona Diamondbacks and now look to gain a split ...

Cardinals out to continue hot stretch vs. Rockies

A seven-game winning streak vaulted the St. Louis Cardinals into first place in the National League Central, but their grip ...

White Sox starter Dylan Cease looks to stay hot against Royals

That Dylan Cease All-Star Game snub looks worse by the day, with the Chicago White Sox right-hander still sporting a ...

Rangers out to stick to plan in series finale vs. Astros

If the Texas Rangers were going to have any measure of success against Houston Astros right-hander Justin Verlander on Wednesday, ...

MLB roundup: Dodgers win season-high 10th straight game

Max Muncy, Chris Taylor and Joey Gallo hit home runs Wednesday and the Los Angeles Dodgers extended their season-best winning ...

Dodgers blast Twins for 10th straight victory

Max Muncy, Chris Taylor and Joey Gallo hit home runs Wednesday and the Los Angeles Dodgers extended their season-best winning ...

NFL

Section