Fri, 07 May 2021

Chinese shares jump, Tokyo and Sydney markets finish flat

Lola Evans
19 Apr 2021, 17:29 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia had an interesting start to the week with shares in Japan and Australia trading flat, while in mainland China and Hong Kong, sharemarkets rallied.

In Tokyo, the Nikkei 225 added just 2 points or 0.01 percent to 29,685.37.

"There are several reasons that overseas investors can't decide whether to sell or buy Japanese stocks," Takatoshi Itoshima, strategist at Pictet Asset Management told Reuters Thomson Monday.

"It is not still clear the impact of the outcome of the summit talks between the U.S. and Japan. We do not know how the Tokyo Olympics will be held, and vaccine rollouts are extremely slow here, and the virus is spreading again."

The Australian All Ordinaries rose by 2.20 points or 0.03 percent to 7,328.00.

China's Shanghai Composite was the star of the day, advancing 50.93 points or 1.49 percent to 3,477.55.

The Hang Seng in Hong Kong climbed 136.44 points or 0.47 percent to close at 29,106.15.

The U.S. dollar was little changed on Monday during Asian trading. Around the Sydney close, the euro was changing hands at 1.1978. The British pound was steady at 1.3850. The Japanese yen firmed to 108.52. The Swiss franc also nudged higher to 0.9198.

The Canadian dollar inched up to 1.2503. The Australian and New Zealand dollars were a tad firmer at 0.7741 and 0.7151 respectively.

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