Thu, 24 Jun 2021

SYDNEY, NSW, Australia - The Australian stock exchange reached an all-time high on Monday, while stocks in Japan also rose.

There was a modest gain in China, but Hong Kong late in the day was trading in the red.

The Australian All Ordinaries jumped 83.50 points or 1.14 percent to 7,408.70.

The S&P/ASX 200 rose 1.3 percent to 7,172.80, a new historical high.

"We are now seeing a value-led rally ripping through the Australian share market and it is only a matter of time before the market makes a move to 7,500 and we could see an outperformance of the U.S. share market over the remainder of the year due to the greater representation of value share in Australia," Head of investments and capital markets at VanEck Australia, Russel Chesler told The Sydney Morning Herald on Monday.

In Japan, the Nikkei 225 gained160.52 points or 0.55 percent to 29,518.34.

China's Shanghai Composite advanced 9.12 points or 0.27 percent to 3,427.99.

The Hang Seng in Hong Kong slipped 14.99 points or 0.05 percent to 28,595.66.

The U.S. dollar was holding on to gains made last week. The euro was last quoted around the Sydney close at 1.2143. The British pound was solid at 1.4063. The Japanese yen was in demand atv109.04, while the Swiss franc was firm at 0.9014.

The Canadian dollar continued to trade at multi-year highs, finishing the Asian session around 1.2106. The Australian and New Zealand dollars were at lofty heights at 0.7848 and 0.7273 respectively.

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