World Bulletin / News Desk
The dollar dipped on Thursday in Asia as investors brushed off another record Wall Street close and upbeat US data while the rally in stock markets stuttered.
New York's three main indexes built on their recent surge, racking up a fifth successive day of record closes, after figures showed US inflation hit a four-year high in January, fuelling bets on an interest rate hike soon.
Also, Trump said Wednesday he would release specifics on his new tax plan in the "not-too-distant future", adding it will be "good and simpler".
His remarks came less than a week after he promised "phenomenal" reforms to the tax system, spurring a surge in global markets and the dollar.
“The strong numbers highlight that the US economy is in fairly healthy shape,” Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said in a note.
“The key is the data and president Trump’s recommitment to the release of the tax plan everyone is waiting for,” McKenna said.
Federal Reserve chief Janet Yellen also reiterated her view to Congress that the world's top economy was on a strong growth track, a day after indicating borrowing costs could increase any time soon -- leading to speculation of a move as soon as March.
However, the greenback was unable to push on with its gains and was down against its major peers as well as higher-yielding currencies in the Asia-Pacific such as the Australian dollar and South Korea's won.
In equity trade Tokyo ended 0.5 percent lower as exporters were hit by the stronger yen while Seoul slipped 0.1 percent, Wellington gave up 1.1 percent and Taipei slipped 0.3 percent. Mumbai and Jakarta were also down.
But in late trade Hong Kong was up 0.5 percent in late trade and Shanghai also ended 0.5 percent higher, both reversing morning losses.
Ayako Sera, a Tokyo-based market strategist at Sumitomo Mitsui Trust Bank, told Bloomberg News warned of a possible correction after the past week's performance.
“Can equities sustain this rally from here?” Sera asked. “If the decline today in Japanese shares spill over to European shares and then to New York, things could get serious but we’ll have to see.”
- Key figures around 0700 GMT -
Tokyo - Nikkei 225: DOWN 0.5 percent at 19,347.53 (close)
Hong Kong - Hang Seng: UP 0.5 percent at 24,110.28
Shanghai - Composite: UP 0.5 percent at 3,229.62 (close)
Euro/dollar: UP at $1.0616 from $1.0602
Pound/dollar: UP at $1.2468 from $1.2459
Dollar/yen: DOWN at 113.90 yen from 114.18 yen
Oil - West Texas Intermediate: DOWN three cents at $53.08 per barrel
Oil - Brent North Sea: UP two cents at $55.77
New York - Dow: UP 0.5 percent at 20,611.86 (close)
London - FTSE 100: UP 0.5 percent at 7,302.41 (close)
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body
Company reaches settlement with EPA following investigation started in 2014
BIST 100 rises 0.51 percent; USD/TRY exchange rate drops to 3.7660
The European aircraft maker said in a statement that net profit nearly tripled to 2.87 billion euros ($3.6 billion) in 2017 from 995 million euros a year earlier.
BIST 100 rises 1.05 percent; USD/TRY exchange rate drops to 3.7820
Saudi Aramco's crude output in March will be 100,000 barrels per day (bpd) below its February level while exports will be kept below seven million bpd, the energy ministry said.
Turkish Central Bank says annual deficit rose to $47.1B in 2017
The figure follows up growth of 0.9 percent in the first quarter of 2017, 0.6 percent in the second, and 0.7 percent in the third -- all adjusted for price, seasonal and calendar effects.
BIST 100 rises 0.73 percent; USD/TRY exchange rate drops to 3.8040
Consumer Prices Index 12-month rate at 3 percent in January 2018, unchanged from December 2017
BIST 100 rises 0.43 percent, while USD/TRY exchange rate drops to 3.7980
Turkey has produced over 1.1 million tons red meat in 2017, TurkStat says
BIST 100 rises 0.88 pct; USD/TRY exchange rate falls to 3.80 while EUR/TRY exchange rate stays at 4.68
Olaf Scholz, of the Social Democratic Party (SDP) that this week struck a deal to reform Germany's so-called grand coalition government with Chancellor Angela Merkel, said Germany "doesn't need to dictate to other European states how they run themselves".