Most Asian stock markets fell on Thursday as upbeat economic data strengthened the prospect for higher U.S. interest rates, while the dollar's bull run continued with U.S. bond yields propelled to multi-year highs.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS pared Wednesday's gains and lost 0.4 percent as focus returned to the United States. Facing the prospect of higher U.S. interest rates diverting money from emerging markets, it has lost 3.5 percent this month.
Japan's Nikkei share average rose for a sixth day on Thursday helped by hopes for better exporters' earnings as the dollar jumped against the yen.
The dollar's rise followed upbeat U.S. economic data that further raised the prospects for higher U.S. interest rates.
The Nikkei ended 0.9 percent higher at 18,333.41, extending its gains into a sixth day to post its longest winning streak since mid-July.
China's blue-chip CSI300 Index rose for the fourth straight day on Thursday as investors chased cyclical stocks, but the broader market struggled for traction with growth stocks under persistent selling pressure.
The CSI300 index rose 0.4 percent to 3,488.74 points, while the Shanghai Composite Index was flat at 3,241.74 points. Shenzhen's start-up board ChiNext lost 0.9 percent.
Hong Kong's benchmark index retreated on Thursday despite Wall Street maintaining a solid run, with investors in emerging markets shifting attention back to the impact of a surging U.S. dollar, and an increasingly likely U.S. rate hike next month.
The Hang Seng index fell 0.3 percent, to 22,608.49, but the China Enterprises Index gained 0.1 percent, to 9,678.77 points.
Reference: Reuters
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