Asian shares slipped to four-week lows on Monday as the prospect of higher U.S. interest rates and a strong dollar stemming from the incoming Trump Administration's purported policies of cutting taxes and spending heavily threatened to suck capital out of emerging markets.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.3 percent to a four-week low. It has lost 3.7 percent since Trump was elected
Dec 19 Japanese stocks edged down in thin trade on Monday, snapping a nine-day rally as a pullback on Wall Street prompted investors to cash in on outperformers such as exporters and banks.
The Nikkei share average shed 0.1 percent to 19,391.60 after soaring 6.2 percent in the past nine days, mainly supported by a weak yen as the dollar rose broadly on expectations of a faster pace of U.S. interest rate hikes next year.
The Bank of Japan began a two-day policy meeting, at which it is expected to stand pat on its 10-year government bond yield target as the weaker yen helps Japan's economic prospects, a Reuters poll showed on Friday.
Analysts said that trading volume will likely be subdued this week as foreign investors head off on Christmas holidays.
Monday's trading volume and turnover on the main board were thin, with only 1.74 billion shares changing hands, the lowest since November 8. Turnover was 2.14 trillion yen, also the lowest since the same day.
The Topix dropped 0.1 percent to 1,549.06 and the JPX-Nikkei Index 400 was down 0.04 percent to 13,877.52. (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)
China stocks slipped on Monday, led by blue-chips, as hopes for fresh monetary stimulus dimmed after Beijing vowed to contain asset bubbles next year by keeping monetary policy "prudent and neutral".
The blue-chip CSI300 index fell 0.5 percent, to 3,328.98 points, while the Shanghai Composite Index lost 0.2 percent to 3,118.08 points.
Reference: Reuters
Thai
Eng