Fri, 30 Oct 2020

SYDNEY, NSW, Australia - Stocks in Asia mostly fell on Wednesday following the U.S. debate between U.S. President Donald Trump and Democratic contender Joe Biden.

The chaotic 90 minutes left viewers, and even the moderator Chris Wallace, frustrated and exasperated at the performance of seemingly the best two candidates in the country.

President Donald Trump, according to one TV network interrupted either Biden or Wallace 73 times during the debate. He talked over both of them and refused to yield to allocated times.

"The U.S. elections, and today's debate, is adding an extra level to an already uncertain market," Brad Smoling, managing director at Smoling Stockbrocking told Reuters Thomson Wednesday.

"No matter what the outcome of the elections, it will be contentious, and it will add more uncertainty to equities," Smoling added.

At the close Wednesday, the Australian All Ordinaries had plummeted 132.20 points or 2.15% to 6,009.30.

Japan's Nikkei 225 lost 353.98 points or 1.50% to close at 23,185.12.

China's Shanghai Composite shed 6.31 points or 0.20% to 3,218.05.

Going again the trend, the Hang Seng in Hong Kong, which closed well aftr the other major markets, gained 183.52 points or 0.79% to 23,459.05.

On foreign exchange markets the U.S. dollar firmed as equities fell. Around the Sydney close Wednesday the euro had dipped to 1.1725. The British pound eased to 1.2826. The Japanese yet was little changed at 105.60. The Swiss franc fell to 0.9217.

The Canadian dollar softened to 1.3405. The Australian dollar slid to 0.7118. The New Zealand dollar was only a franction lower at 0.6580.

Overnight on Wall Street, the Dow Jones Industrial Average decreased 131.40 points, or 0.48%, to 27,452.66.

The S&P 500 fell 16.13 points, or 0.48%, to 3,335.47.

The Nasdaq Composite Index dipped 32.28 points, or 0.29%, to 11,085.25.

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