Asian markets struggle but weak yen lifts Tokyo again

HONG KONG: Japanese stocks extended their recent rally Monday as the dollar consolidated its gains against the yen with investors betting on a US interest rate hike next month.
However, other markets continued to struggle with uncertainty over the impact of a Trump presidency.
The greenback has soared to five-month highs against the yen since Donald Trump’s election win on a platform of huge infrastructure spending and tax cuts that experts say will fan inflation and force the Federal Reserve to lift rates.
That has in turn provided a boon for Japan’s exporters as it makes their goods cheaper overseas and boosts repatriated profits.
The dollar was at 110.82 yen in early Japanese trade, levels not seen since June, while the Nikkei stock index climbed 0.5 percent by the break to its highest level since January.