Fri, 25 Sep 2020

SYDNEY, Australia - Only the Australian stock market made gains on Thursday. Most Asian bourses were held back on the reversal of optimism over the coronavirus.

Just a day earlier deaths and cases seemed to have peaked and were starting to come down.

Then on Tuesday in China cases swelled, and the number of deaths doubled from the day before.

In China's Hubei province, 242 new deaths were registered, and 14,840 new cases were confirmed for Tuesday.

China's stock markets including the Hang Seng in Hong Kong traded lower, and were looking at closing out the day in the red.

The Nikkei 225 which had closed at the time of writing, was down 64.21 points olr 0.27% at 23,797.00.

The Australian All Ordinaries gained 19.30 points or 0.27% to 7,204.60.

On foreign exchange markets the euro remained weak, near a 3-year low at 1.0870.

The British pound dropped just a few points to 1.2950. The safe-have Japanese yen reversed the prior day's losses to trade higher at 109.83. The Swiss franc too gained, closing out the day in Asia around 0.9776.

The Canadian dollar was a tad stronger at 1.3254. The Australian dollar fell to 0.6717. The New Zealand dollar was lower at 0.6446.

Overnight on Wall Street, the Dow Jones index expanded by 275.08 points or 0.94% to close Wednesday at 29,551.42.

The Standard and Poor's 500 appreciated 21.70 points or 0.65% to 3,379.45.

The Nasdaq Composite added 87.02 points or 0.90% to 9,725.96.

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