Mon, 26 Jul 2021

SYDNEY, NSW, Australia - Stocks in Japan did an almost complete about-face on Tuesday with the Nikkei 225 soaring 873.20 points or 3.12 percent to 28,884.13.

The irony is that the 873 points represented almost 92 percent of the losses that occurred on the same index the day prior.

In Australia, the All Ordinaries regained 107.50 points or 1.44 percent, with the key index closing Tuesday at 7,592.74.

China's Shanghai Composite again ignored the volatility, rising just 28.23 points or 0.80 percent to 3,551.41. The Chinese index finished flat on Monday.

In Hong Kong, the Hang Seng, going against the trend, gave up 179.24 points or 0.63 percent to 38,309.76.

The U.S. dollar nudged a little higher but basically spent the Asian day range-trading. The euro was last quoted around the Sydney close Tuesday at 1.1910. The British pound drifted down to 1.3893. The Japanese yen weakened to 110.42. The Swiss franc softened to 0.9189.

The Canadian dollar was a tad weaker at 1.2377. The Australian dollar dipped to 0.7511. The New Zealand dollar slipped to 0.6982.

Overnight on Wall Street, the Dow Jones industrials led the charge higher, jumping by 586.89 points or 1.76 percent to 33,876.97.

The Standard and Poor's 500 strengthened by 58.34 points or 1.40 percent to 4,224.79.

The Nasdaq Composite climbed 111.10 points or 0.79 percent to 14,141.48.

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