Stocks rise in Asia, dollar remains soft

Lola Evans
22 Oct 2019, 19:10 GMT+10

Stocks in Asia rose on Tuesday, with gains across the board.
Helping sentiment were remarks by U.S. President Donald Trump on Monday that efforts to finalize a U.S.-China trade deal were on track.
China's Shanghai Composite advanced 14.76 points or 0.50% to 2,954.38.

SYDNEY, Australia - Stocks in Asia rose on Tuesday, with gains across the board.

Helping sentiment were remarks by U.S. President Donald Trump on Monday that efforts to finalize a U.S.-China trade deal were on track. A partial agreement known as Phase-one was agreed between the two countries around 10 days ago but has yet to be documented.

China's Shanghai Composite advanced 14.76 points or 0.50% to 2,954.38.

In Hong Kong, the Hang Seng rose 60.52 points or 0.23% to 26,786.20.

The Australian All Ordinaries climbed 20.90 points or 0.31% to 6,778.60.

The U.S. dollar remained oin the defensive in Asia although sterling was taking a slight hit due to continued Brexit uncertainty.

Following the Sydney close, and into early European trading Thursday, the British pound was changing hands at 1.2950.

The euro remained well bid at 1.1143.

The Japanese yen was slightly stronger at 108.52. The Swiss franc eased to 0.9881.

The Canadian dollar was little changed from the New York close consolidating its recent gains, last quoted at 1.3091.

The Australian dollar was in demand at 0.6864, while the New Zealand dollar continued higher to 0.6423.

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