Tue, 26 Jan 2021

Asian shares sold off, U.S. dollar slides, gold drops

Lola Evans
30 Nov 2020, 16:48 GMT+10

SYDNEY, NSW, Australia - Markets in Asia were active Monday with sellers out in force.

Most stock markets were in the red while the rout in the U.S. dollar continued, and the recent sell-off in gold intensified.

With economies globally tanking and stocks at record highs there is considerable uncertainty at what lies ahead. In what is not a good sign, the price of gold slid to a four month low, below $1,770 on Monday.

In Australia, where the country's confrontation with China reached a new boiling point on Monday, the benchmark All Ordinaries index tumbled 74.70 points or 1.10 percent to 6,742.10.

Japan's Nikkei 225 dropped 157.42 points or 0.59 percent to 26,487.29.

The Hong Kong Hang Seng was the worst performer, losing 553.19 points to 26,341.49. Chinas Shanghai Composite shed 16.55 points or 0.49 percent to 3,391.76.

The euro strengthened to 1.1974 around the Sydney close on Monday. The British pound swelled to 1.3343. The Japanese yen rose to 103.86. The Swiss franc was sharply higher at 0.9028.

The Canadian dollar was in demand at 1.2986. The Australian dollar was bid up to 0.7388. The New Zealand dollar firmed to 0.7028.

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