Mon, 06 Dec 2021

SYDNEY, NSW, Australia - Stocks in Asia were flat to lower on Thursday as renewed uncertainty about the future of China Evergrande, and rising Treasury yields took hold.

"The U.S. stock market has gone up for six days in a row, bitcoin's made a record and the U.S. bond market is calm. On the surface it looks benign," Andrew Ticehurst, a rates strategist at Nomura in Sydney was quoted as saying by Reuters on Thursday.

"But below the surface, we are uncomfortable about a number of things," he said, chiefly the slowdown in China's economy seen in data earlier this week, and concerns about potential fallout from Evergrande's troubles.

In Tokyo, the Nikkei 225 was the biggest loser, shedding 546.97 points or 1.87 percent to 28,708.58.

The Australian All Ordinaries was flat, adding just 1.30 points or 0.02 percent to 7,728.50.

In Hong Kong, the Hang Seng was down lost 118.49 points or 0.45 percent to 26,017.53.

China's Shanghai Composite edged up 7.78 points or 0.22 percent to 3,594.78.

On foreign exchange markets, the U.S. dollar was a tad firmer. The euro was little changed at 1.1649 around the Sydney close Thursday. The British pound inched up to 1.3811, a six-week high. The Japanese yen inched up to 114.06. The Swiss franc was little changed at 0.9194.

The Canadian dollar edged up to 1.2325. The Australian dollar drifted down slightly to 0.7502. The New Zealand dollar weakened a fraction to 0.7196.

Overnight on Wall Street, the Dow Jones index added 152.03 points or 0.43 percent to close Wednesday at 35,609.34. During the session, the benchmark index hit a new all-time high of 35,699.69.

The Standard and Poor's 500 too traded near its record high, finishing the day ahead 16.56 points or 0.37 percent at 4,536.19.

The tech-laden Nasdaq Composite lagged, losing 7.41 points or 0.05 percent to close at 15,121.68.

More Morocco News

Access More

Sign up for Morocco News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!