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Asia markets mostly down after rally, dollar weakens

Published : Monday, 20 March, 2017 at 8:05 PM Count : 160

Most Asian markets slipped Monday following last week's broad advances, with the dollar suffering fresh selling pressure after the Federal Reserve hinted at a slower-than-expected pace interest rate hikes this year.

With few events to drive buying, investors took a step back following a recent rally across global trading floors while there is a nagging fear that Donald Trump's promised tax cuts and spending splurge could come later than hoped.

"Positive catalysts to further moves higher appear to be lacking at the moment," said Greg McKenna, chief market strategist at AxiTrader, in a note.

"The delay on the details of (Trump's) tax plan is a risk for stocks if US data starts to disappoint."

Wall Street provided a damp lead with Dow and S&P 500 ending lower Friday.

NS





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