AP – Asian shares traded mostly lower yesterday after Wall Street drifted to a mixed finish.
Investors were watching for any market impact from the debate between the United States (US) presidential candidates, Vice President Kamala Harris and former President Donald Trump.
The value of the US dollar has increased against peers in the past when expectations for a Trump reelection have strengthened, among other moves that have come to be known as part of the “Trump trade”, due in part to his calling for tariffs.
In currency trading, the US dollar fell to JPY141.32 from JPY142.41. The euro cost USD1.1047, up from USD1.1023.
The US dollar fell at one point to JPY140 levels after a Japanese central bank official was quoted by Japanese media as indicating the Bank of Japan was getting ready to raise interest rates, a move anticipated for some time.
Japan’s benchmark Nikkei 225 dropped 1.5 per cent to finish at 35,619.77, while Australia’s S&P/ASX 200 lost 0.3 per cent to 7,987.90.
South Korea’s Kospi slipped 0.7 per cent to 2,505.87 after data showed the seasonally adjusted unemployment rate in the nation edged down to 2.4 per cent in August 2024 from 2.5 per cent in July, the lowest in a year as the number of unemployed people declined.
