Stocks in Japan fall after Fitch puts debt on negative outlook

SYDNEY, Australia – Stocks in China rose again Wednesday, while markets in Japan and Australia fell.

The U.S. dollar continued its decline to a two-year low.

Fitch announced Wednesday it was downgrading the outlook for Japan’s long-term foreign currency debt from ‘stable’ from ‘negative,’ but maintained the country would retain its A rating.

In Tokyo, the Nikkei 225 let go 260.27 points or 1.15% to 22,317.11

China’s Shanghai Composite was the Asian region’s best performer, rising 66.59 points or 2.06% to 3,294.55.

The Australian All Ordinaries lost 18.80 points or 0.31% to 6,128.00.

In Hong Kong, the Hang Seng jumped 110.38 points or 0.45% to 24,883.14.

On foreign exchange markets the euro remained robust at 1.1750 around the Sydney close Wednesday. The British pound appreciated to 1.2935. The Japanese yen pierced another landmark hurdle to trade at 104.97. The Swiss franc continues its recent sharp ascent to trade at 0.9158.

The Canadian dollar edged up to 1.3354. The New Zealand dollar was modestly higher at 0.6662, while the Australian dollar was in much demand at 0.7172.

Overnight on Wall Street, the Dow Jones Industrial Average was down 205.49 points, or 0.77%, at 26,379.28.

The Standard and Poor’s 500 dropped 20.97 points, or 0.65%, to 3,218.44.

The Nasdaq Composite lost 134.18 points, or 1.27%, to 10,402.09.

Published at Wed, 29 Jul 2020 08:38:44 +0000

Source: Stocks in Japan fall after Fitch puts debt on negative outlook.

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