Asian shares recoup losses, dollar steady as eyes on Trump

26 Jan,2018

Seoul, BdChronicle:

Shares are modestly higher in Asia, recouping losses from earlier in the week as the dollar steadies against other currencies. Investors are watching for President Donald Trump's comments later Friday to the World Economic Forum in Davos, Switzerland.

KEEPING SCORE: Japan's Nikkei 225 added 0.2 percent to 23,703.83 and South Korea's Kospi added 0.2 percent to 2,566.15. Hong Kong's Hang Seng index jumped 1.1 percent to 32,998.48 and the Shanghai Composite index added 0.3 percent to 3,559.23. Stocks in Southeast Asia were mixed. Australian markets were closed for a holiday.

WORDS ON DOLLAR: On Thursday, U.S. Treasury Secretary Steven Mnuchin sought to clarify earlier comments on the desirability of a weak dollar that had precipitated a dip in its value against other major currencies. In the long run, "I fundamentally believe in the strength of the dollar," Mnuchin said. The dollar steadied after that comment and one by Trump, who said that "ultimately, I want to see a strong dollar."

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