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)
Eurostat says inflation down 0.1 percentage point from November
Some 10.74 million vehicles from VW or its subsidiaries ranging from Porsche and Audi to Skoda and Seat rolled out of dealerships last year -- an increase of 4.3 percent over the previous year, the carmaker said.
The publication cited an anonymous source close to regulators tackling online finance risks.
BIST 100 rises 0.01 percent to open at 114,429.64 points, foreign currency rates go up
BIST 100 up 0.18 percent while USD/TRY exchange rate climbs over 3.8
Unemployment rate in October fell 1.5 percentage point year-on-year, says TurkStat
BIST 100 drops 0.31 percent to open at 114,286.27 points on Monday, US dollar decreases to 3.75 Turkish liras
U.S. Treasury Secretary says he wants to make sure bitcoin does not become a ‘digital Swiss bank account’
About 12 minutes into trading, the Dow Jones Industrial Average was at 25,675.70, up 0.4 percent.
BIST 100 rises 0.30 percent to open at 115,062.79 points on Friday, US dollar/lira, euro/lira exchange rates go down
Food Price Index gains 8.2 percent year-on-year in 2017, reaching highest annual average since 2014
Gas prices also rising in US, forecast to hit highest levels since 2014
BIST 100 rises 0.65 percent to open at 114,329.36 points on Thursday
‘We think the recovery is firm and the momentum is there says World Bank Development Prospects Group Director