Sun, 26 May 2019

Stocks in Asia sold off following Wall St plunge

Lola Evans
14 May 2019, 20:11 GMT+10

SYDNEY, Australia - Shares across Asia were sold off Tuesday following the overnight carnage on Wall Street.

The Chinese-U.S. trade talks remained the focus with the prospects of an all-out trade war tightening.

In Hong Kong, the Hang Seng suffered the most damage. The key index fell 428.22 points or 1.50% to 28,122.02.

The Shanghai Composite gave up 20.10 points  or69% to close at 2,883.61.

In Tokyo, the Nikkei 225 shed 124.05 points or 0.59% to finish at 21,067.23.

The Australian All Ords declined 54.10 points or 0.85% to 6,327.20.

The euro edged higher to 1.1238.

The British pound remained friendless at 1.2946, while the Japanese yen was little changed at 109.66.

The Swiss franc gained to 1.008. The Canadian dollar was a fraction higher at 1.3463.

The Australian dollar was of no interest, finishing the day in Sydney around 0.6945 on Tuesday, while the New Zealand dollar was also weak at 0.6583.

Overnight on Wall Street, the Dow Jones Industrial Average ended the day with a 617.38 points or 2.38% loss at 25,324.99.

The Standard and Poor's 500 fell sharply, losing 69.52 points or 2.41% to 2,811.88.

Tech stocks fared worst of all in percentage-terms, with the Nasdaq Composite shedding 269.92 points or 3.41% to 7,647.02.

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