Japanese shares fell as dollar/yen slipped to a one-month low, after President-elect Donald Trump held a raucous and freewheeling press conference that analysts said was sparse on economic policy details.
The Nikkei 225 Index stumbled 229.97 points, or 1.2%, to 19,134.70, as the yen strengthened against the U.S. dollar to 114.25 compared to levels as high as 116 in yesterday's session. A stronger yen is generally bad news for Japanese companies as it makes exports more expensive and lowers repatriated profits earned overseas.
The Hang Seng Index in Hong Kong erased 106.33 points, or 0.5%, to 22,829.02
The news conference held on Wednesday during U.S. time concluded with Trump, who will be inaugurated as the 45th President of the United States on Jan. 20, not providing further clarity on his proposed policies, inklings of which had drove U.S. markets and the dollar higher since November.
Japanese condiments manufacturer Kewpie bucked the trend to jump 4.7%, after the company said it expects operating profit to rise 10.7% to 33 billion yen ($287 million U.S.) for the full year ending November and that it will increase the dividends by 1.5 yen per share compared to the previous year to 36 yen each.
The Australian health-care sub-index was down 1.2%, tracking the fall in healthcare stocks in the U.S. overnight. Biotech firm CSL fell 2.8%, while Mayne Pharma Group dropped 4.1%
The Australian dollar was stronger against the greenback, at $0.7456.
Samsung Electronics was up 1.4% and Samsung C&T was up 1.6% as investors shrugged off news that Samsung Group chief Jay Lee arrived at the South Korean special prosecutor's office for questioning over a corruption scandal which has engulfed South Korea, and resulted in the impeachment by parliament of President Park Geun-hye.
In other markets
In Shanghai, the CSI 300 dropped 16.88 points, or 0.5%, to 3,317.62
In Korea, the Kospi gained 11.97 points, or 0.6%, to 2,087.14
The Straits Times Index in Singapore dropped 7.94 points, or 0.3%, to 2,993
In Taiwan, the Taiex Index picked up 64.44 points, or 0.7%, to 9,410.18
In New Zealand, the NZX 50 fell six points, or 0.1%, to 7,063.59
Australia's ASX 200 eased 4.63 points, or 0.1%, at 5,766.86
