Thu, 28 Oct 2021

SYDNEY, NSW, Australia - Stocks were directionless in Asia on Monday with little to drive markets.

The Australian All Ordinaries did best, rising 41.40 points or 0.54 percent to 7,690.70.

In Japan, the Nikkei 225 slid 8.75 points or 0.03 percent t0 30,240.06.

China's Shanghai Composite dropped 30.24 points or 0.84 percent to 3,582.83.

The Hang Seng in Hong Kong inched up 6.66 points or 0.03 percent to 30,240.06.

The U.S. dollar was relatively stronger, although the Australian dollar bucked the trend on higher commodity prices.

The Japanese yen weakened as fears of an imminent collapse of China Evergrande receded.

"USD is likely to remain caught in the cross-currents of a more hawkish FOMC and fading concerns around a potential Evergrande default," Commonwealth Bank of Australia analysts wrote in a client note Monday, according to Reuters.

"Nevertheless, the risks are skewed to a firmer USD," with any renewed Evergrande worries unlikely to trigger the level of market volatility of last week, the CBA analysts said.

The euro slumped to 1.1716 around the Sydney close Monday. The Japanese yen remained weak at 110.66. The British pound was friendless at 1.3670. The Swiss franc was a fraction weaker at 0.9267.

The Canadian dollar inched higher to 1.2620. The Australian dollar firmed a touch to 0.7276. The New Zealand dollar was limply traded at 0.7017.

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