Wed, 08 Dec 2021

SYDNEY, NSW, Australia - Buyers swarmed Asian stock markets on Friday, cashing in on a global rush to stocks.

Gains in Asia mirrored those made on Wall Street and other markets around the world a day earlier.

Not everyone though see the gains being sustained.

"U.S. gains will boost sentiment in pockets, but what we've seen in Asian markets recently, especially mainland China and Hong Kong shares, is regional concerns have overridden some of the more positive sentiment that comes out of U.S. markets," Kyle Rodda, an analyst at IG markets told Reuters on Friday.

"My sense is that things are going to remain fairly mixed and volatile in Asian markets."

The Nikkei 225 in Japan led the charge on Friday rising 517.70 points or 1.81 percent to close at 29,068.63.

The Australian All Ordinaries added 54.00 points or 0.72 percent to 7,674.20.

The Hang Seng in Hong Kong surged 368.37 points or 1.48 percent to 25,330.96.

China's Shanghai Composite added 14.09 points or 0.40 percent to 3,572.37.

The U.S. dollar continued to lose ground against all but the Japanese yen, on Asian markets Friday. The euro was in demand at 1.1606 around the Sydney close. The British pound edged up to 1.3677. The Swiss franc firmed to 0.9229.

The Canadian dollar advanced to 1.2351. The Australian dollar continued higher to 0.7423. The New Zealand dollar was sharply higher at 0.7053.

Overnight on Wall Street, the Dow Jones rallied 534.75 points or 1.56 percent to 34,912.56.

The Nasdaq Composite rose 251.71 points or 1.73 percent to 14,823.43.

The Standard and Poor's 500 advanced 74.46 points or 1.71 percent to 4,438.26.

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