Daily Dose, EU

Asian Stocks Fall as Dollar Gains, Earnings Are Monitored – Asia Market Wrap

After a lacklustre US day, stocks in Asia fell as investors sought concrete proof of an earnings comeback before pushing this month’s surge much higher. The dollar increased.

Japanese stocks slumped after Toyota Motor’s profit estimate fell short of expectations and Nintendo fell on a bleak outlook. A recent surge in mainland Chinese and Hong Kong equities paused as investors anticipated a plethora of significant tech earnings that are scheduled for release next week.

Treasuries rates continued to tick upward, driving up the dollar for a third day. The governor of the central bank issued warnings, but the yen continued to lose ground.

Governor of the Bank of Japan Kazuo Ueda strengthened his stance on the weak yen and sent a clear warning to the financial markets about a possible policy change. According to Finance Minister Shunichi Suzuki, the administration is prepared to take whatever necessary action.