Comment on Asian stocks directionless, dollar steadies after slide

Asian stocks directionless, dollar steadies after slide

Japan's benchmark Nikkei 225 index recouped earlier losses, rising 0.4 percent to 18,894.37 while South Korea's Kospi was flat at 2,071.17. Hong Kong's Hang Seng jumped 1.2 percent to 23,107.97 and the Shanghai Composite in mainland China added 0.3 percent to 3,118.83. Initial investor optimism over Trump's promises to bring in business-friendly policies has been waning as reality sets in, suggested Jingyi Pan, market strategist at IG in Singapore. The Chinese financial hub's benchmark index surged as local stocks were poised to benefit from the dollar's weakness via the city's currency peg to the dollar, which makes shares more attractive for investors and fund managers using other currencies. Benchmark U.S.

 

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