Asian stocks rally across the board, Nikkei 225 surges 354 points

Lola Evans
17 Aug 2022, 18:19 GMT+10

Stock markets across the Asia Pacific region rallied on Wednesday.
In Japan, the Nikkei 225 surged 353.86 points or 1.23 percent to 29,222.77.
China's Shanghai Composite climbed 14.64 points or 0.45 percent to 3,292.53.

SYDNEY, NSW, Australia - Stock markets across the Asia Pacific region rallied on Wednesday.

In Japan, the Nikkei 225 surged 353.86 points or 1.23 percent to 29,222.77.

China's Shanghai Composite climbed 14.64 points or 0.45 percent to 3,292.53.

The Australian All Ordinaries advanced 19.20 points or 0.26 percent to 7,381.10.

New Zealand's S&P/NZX 50 added 5.78 points or 0.05 percent to 11,852.93.

In South Korea, the Kospi Composite rose 17.05 points or 0.67 percent to 2,516.47.

Hong Kong's Hang Seng gained 87.40 points or 0.44 percent to 19,918.12.

The U.S. dollar was mixed. It was little changed against the euro at 1.0164 around the Sydney close Wednesday. The British pound edged up to 1.2095 after the release of economic data showing the annualized consumer price inflation reached 10.1 percent in the UK last month, the highest level in forty years.

The Japanese yen weakened sharply to 134.79. The Swiss franc fell to 0.9514.

The Canadian dollar increased to 1.2870. The Australian dollar fell half a cent to 0.6977. The New Zealand dollar fell to 0.6317 despite the Reserve Bank of New Zealand increasing official interest rates by 0.50 percent to 3.00 percent.

Overnight on Wall Street, the Dow Jones industrials gained 239.44 points or 0.71 percent to 34,151.88.

The Nasdaq Composite slid 25.50 points or 0.19 percent to 13,102.55.

The Standard and Poor's 500 added 8.06 points or 0.19 percent to 4,305.20.

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