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Asia Generally Up As Markets Settle


Most Asian markets closed higher on Tuesday, a rout that wiped out as much as $3 trillion U.S. of market capitalization, in the wake of the U.K.'s surprise decision to leave the European Union.

In Japan, the Nikkei 225 gained 13.93 points, or 0.1%, to 15,323.14

In Hong Kong, the Hang Seng Index fell 54.84 points, or 0.3%, to 20,172.46

The Japanese yen maintained strength against the U.S. dollar, trading at 102.06. The yen strength put some Japanese equities under pressure.

Major Japanese automakers sold off, with Toyota shares dropping 3.4%, Nissan off 1.1% and Honda off 1%. A stronger yen is a negative for exporters as it reduces their overseas profits when converted to local currency.

Shares of troubled airbag maker Takata closed up 2.2%, erasing earlier losses of more than 6.8% after a Reuters report that Honda said a Takata airbag inflator had ruptured in a fatal crash in Malaysia. Another Reuters report said Takata's CEO Shigehisa Takada said on Tuesday he would resign after a "new regime" is found for the auto parts supplier.

Australian markets went down, as major banking stocks in the country reversed losses, with shares of ANZ up 0.1% and NAB higher by 0.5%

CHINA

The Shanghai CSI 300 added 15.86 points, or 0.5%, to 3,136.40

The Chinese yuan traded at 6.6494 against the U.S. dollar, after the People's Bank of China set the yuan midpoint fix at 6.6528. The dollar/yuan pair last closed at 6.6481.

In other markets

In Korea, the Kospi picked up 9.37 points, or 0.5%, to 1,936.22

In Singapore, the Straits Times Index recovered 26.68 points, or 1%, to 2,756.53

In Taiwan, the Taiex index regained 46.64 points, or 0.6%, to 8,505.51

In New Zealand, the NZX 50 climbed 29.66 points, or 0.4%, to 6,716.58

The ASX 200 docked 33.96 points, or 0.7%, to 5,103.27