Wed, 10 Aug 2022

SYDNEY, NSW, Australia - Stocks in Asia made solid gains on Friday in a positive end to the week.

In Japan, the Nikkei 225 advanced 320.72 points or 1.23 percent to 26,491.97.

China's Shanghai Composite rose 29.60 points or 0.89 percent to 3,349.75.

The Australian All Ordinaries gained 71.00 points or 1.06 percent to 6,762.40.

In New Zealand, the S&P/NZX 50 added 135.25 points or 1.27 percent to 10,813.92.

South Korea's Kospi Composite strengthened by 57.28 points or 2.26 percent to 2,366.60.

In Hong Kong, the Hang Seng closed up 445.19 points or 2.09 percent at 21,719.06.

On foreign exchange markets, the Russian rouble continued to trade at 7-year highs around 53.50. The rouble is the best performing currency in 2022 due to high prices being paid for Russian oil and gas, and other exports.

The euro dipped to 1.0525 by the Sydney close Friday. The British pound was steady at 1.2273. The Japanese yen was little changed at 134.60, as was the Swiss franc at 0.9611.

The Canadian dollar traded in a tight range around 1.2980. The Australian dollar inched up to 0.6904. There was some tiny demands for the New Zealand dollar propelling it to 0.6295.

Overnight on Wall Street, the Nasdaq Composite surged 179.11 points or 1.62 percent to 11,237.19.

The Dow Jones industrials climbed 194.23 points or 0.64 percent to 30,677.31.

The Standard and Poor's 500 advanced 35.84 points or 0.95 percent to 3,795.73

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