Asian Stocks Fluctuate, Dollar Falls Against Peers – Asia Market Wrap

Asian shares fluctuated between gains and losses on Thursday as investors assessed the dangers to global markets following a turbulent week in which central bank policy choices created uncertainty.

Japan’s Topix Index dipped again Thursday after recovering from an earlier fall of up to 1.8%. Benchmarks in China and Hong Kong increased, while those in Korea and Australia decreased. MSCI’s Asia-Pacific Index slipped down, down 1.9% this week. The dollar fell against major currencies, notably the yen.

A summary of viewpoints from last week’s Bank of Japan meeting, when rates were lifted, showed that one member identified the neutral rate as 1%, while another advocated for gradual rate rises to avoid quick hikes.

Global markets have been rattled in the last week as investors braced for conflicting moves by the US and Japanese central banks, eroding the yen’s role as a low-cost source of borrowing for financial assets.