Asia report: Most markets lower as dollar weakness continues

The Nikkei 225 was off 1.13% to 23,669.49, as the yen strengthened 0.18% against the dollar to JPY 109.02.

Most sectors in Tokyo, including carmakers, financials, manufacturers and technology plays, were in the red by the end of the day.

The country’s major exporters were lower on the yen’s strength, with Fanuc Manufacturing losing 0.85% and Nintendo down 1.79%.

On the mainland, the Shanghai Composite was down 0.31% at 3,548.30, and the smaller, technology-heavy Shenzhen Composite was off 0.39%.

South Korea’s Kospi rose 0.95% to settle at 2,562.23, while the Hang Seng Index in Hong Kong fell 0.92% to 32,654.45.

Chip manufacturer SK Hynix surged 4.7% after the company announced record-high fourth quarter operating profit at KRW 4.47trn.

Annual operating profit for 2017 also reached a record of KRW 13.7trn, which the company put down to recent exponential growth in demand for computer memory.

Steelmaker Posco was also among the leaders in Seoul, rising 1.29% after it reported earnings in the previous session.

Oil prices were higher, with Brent crude up 0.47% at $70.86 per barrel, and West Texas Intermediate rising 0.74% at $66.10.

In Australia, the S&P/ASX 200 slipped 0.08% to 6,050.00, with losses in the industrials and utilities subindices offsetting gains in materials.

Gold producers were a standout, with the sector rising 2.82% after prices for the precious metal rose to their highest levels in 18 months as the dollar weakened.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 gained 0.5% to 8,369.78, led higher by Pushpay, which was ahead 3%.

Both of the down under dollars were stronger, with the Aussie last ahead 0.1% at AUD 1.2385, while the Kiwi strengthening 0.38% to NZD 1.3573.