Sat, 24 Jul 2021

SYDNEY, Australia - Stocks in Asia were generally weaker on Monday, although they traded in positive territory in Australia.

A rally on Wall Street Friday after unemployment was revealed to be at a fifty year low impacted markets in Asia and Europe on Monday.

"I think the fact that the U.S. jobs report was broadly positive really put the brakes on the fear factor that was circulating last week, that the U.S. has been hit hard by the trade war," David Madden, market analyst at CMC Markets in London told Reuters Thomson on Monday.

In Japan, the Nikkei 225 fell 34.95 points, reversing early gains. The percentage loss was 0.16% with the key index closing at 21,375.26.

In Hong Kong, the Hang Seng slid 289.27 points or 1.11% to 25,821.03.

China's Shanghai Composite fell 26.98 points or 0.92% to 2,905.19.

The Australian market was quiet given that it was a public holiday in New South Wales, Canberra, Queensland, and South Australia.

On low volumes the Australian All Ordinaries climbed 49.80 points or 0.75% to 6,686.70.

The U.S. dollar was little changed. The euro was last quoted around the Sydney close on Monday at 1.0963. The British pound drifted down to 1.2291. The Japanese yen was firm at 106.87.

The Swiss franc gained to 0.9943. The Canadian dollar was a tad stronger at 1.3325. The Australian and New Zealand dollars were a fraction weaker at 0.6737 and 0.6289 respectively.

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