Tue, 03 Aug 2021

SYDNEY, Australia - Stocks in Asia were on the skids on Wednesday following the U.S. president's latest change of tune on the outlook for a trade deal with China.

Stocks sank across the board, and major currencies steadied against the greenback.

At the close of trading Wednesday, the Nikkei 225 in Japan was down 144.08 points or 0.62% at 23,148.57.

The Australian All Ordinaries lost 85.80 points or 1.24% to 6,828.30.

In Hong Kong, the Hang Seng was off 204.19 points or 0.75% at 26,889.61.

The Shanghai Composite fell 22.94 points or 0.78% to 2,911.05.

The British pound remained weaker at 1.2907. The euro was steady at 1.1071. The Japanese yen remained well bid at 108.52, and the Swiss franc crept up to 0.9902.

The Canadian dollar remained on the defensive at 1.3281. The Australian and New Zealand dollars were little changed at 0.6814nand 0.6421 respectively.

Overnight on Wall Street, the Dow Jones industrials gave up 104.46 points or 0.37% to close at 27,931.76.

The Standard and Poor's 500 lost 1.31 points or 0.04% to 3,120.72.

The Nasdaq Composite rose 21.62 Points or 0.25% to 8,571.61.

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