On Wednesday, the greenback gained some strength due to positive U.S. macro-economic data. However, looming concerns about U.S.-China tension limited potential gains. The dollar index, which tracks the greenback against its peer, was mainly flat at 89.505 after recording an overnight gain of 0.1 percent. The index had hit 89.229, which was its lowest since March 27, before rebounding on a stronger than expected U.S. March industrial data. Versus its Japanese counterpart, the dollar climbed up by 0.05 percent to 107.040 yen after falling to 106.885 yen on Tuesday.
On Wednesday, the majority of Asian markets traded fairly higher, as investor confidence stayed strong with Wall Street’s positive activity due to strong earnings from U.S companies.The Nikkei of Japan went higher by 1.16 percent; the broader Topix gained 0.83 percent. Gains were mainly recorded in the tech sectors. The KOSPI of Korea gained 1.23 percent. The Hang Seng index recovered from its past session’s declines, trading higher by 1.07 percent. In Australia, the S&P/ASX 200 went higher by 0.22 percent. Weakness in its financial subindex was balanced by gains in the energy and material sectors.
The rally, however, did not extend to the Chinese mainland. The Shanghai composite tumbled by 0.03 percent; the Shenzhen composite fell by 0.37 percent.