Asia shares slip, dollar declines below 100 yen

An investor looks at the stock price monitor at a private securities company Tuesday, Nov. 19, 2013, in Shanghai, China. Asian shares were mostly lower on profit-taking Tuesday, with investors shrugging off another record close for the Dow on Wall Street, while Tokyo softened as the yen strengthened against the dollar. AP Photo

HONG KONG—Asian shares were mostly lower on profit-taking Tuesday, with investors shrugging off another record close for the Dow on Wall Street, while Tokyo softened as the yen strengthened against the dollar.

Shares in Shanghai and Hong Kong were also tepid after rallying Monday on a Chinese reform blueprint that pledged a greater role for private firms in the economy.

Tokyo eased 0.25 percent, or 37.74 points, to 15,126.56 and Sydney fell 0.59 percent, or 31.8 points, to 5,352.9. Seoul rose 1.04 percent, or 20.83 points, to 2,031.64.

Hong Kong finished flat, dipping 2.25 points to 23,657.81. Shanghai lost 0.19 percent, or 4.09 points, to close at 2,193.13.

With few catalysts to drive business, regional markets took a breather after healthy gains over the past week.

Attention will be on a speech by outgoing Federal Reserve chief Ben Bernanke later in the day to see if he gives any hints about future policy or when the US central bank will begin winding down its stimulus program.

In New York the Dow Jones Industrial Average closed Monday up 0.09 percent at 15,976.02, another all-time high for a fourth successive session.

However, it suffered a late sell-off after breaking the 16,000 barrier for the first time, with traders spooked after investment titan Carl Icahn said equity markets could fall soon.

Also on Wall Street the S&P 500 eased 0.37 percent after topping 1,800 for the first time, while the tech-rich Nasdaq fell 0.93 percent.

Japanese traders were cashing in after the Nikkei surged 7.7 percent last week, while the stronger yen was also hurting exporters.

In the afternoon the dollar bought 99.80 yen compared with 99.93 yen in New York. The greenback had topped out at 100.40 yen in Tokyo Monday before slipping.

The euro fetched $1.3540 and 135.13 yen, against $1.3507 and 134.97 yen.

On oil markets New York’s main contract, West Texas Intermediate for December delivery, was down seven cents at $92.96 in late trade. Brent North Sea crude for January slipped 22 cents to $108.25.

Gold fetched $1,272.46 per ounce at 1048 GMT compared with $1,282.70 on Monday.

In other markets:

— Wellington fell 0.60 percent, or 29.53 points, to 4,862.51.

Telecom shed 2.17 percent to NZ$2.26 and Fletcher Building rose 0.85 percent to NZ$9.54.

— Taipei rose 0.84 percent, or 68.75 points, to 8,260.21.

Smartphone maker HTC jumped 1.31 percent to Tw$154.5 while Taiwan Semiconductor Manufacturing Co. was up 0.96 percent at Tw$105.5.

— Manila fell 1.19 percent, or 75.40 points, to 6,267.85.

Alliance Global Group fell 4.28 percent to 45.75 pesos, while JG Summit rose 1.70 percent to 44.75 pesos.

— Jakarta climbed 0.11 percent, or 4.74 points, to 4,398.34.

Tobacco company Gudang Garam rose 0.13 percent to 38,050 rupiah, while miner Aneka Tambang lost 1.48 percent to 1,330 rupiah.

— Kuala Lumpur rose 0.82 percent, or 14.77 points, to 1,807.16.

Plantation company Sime Darby gained 1.9 percent to 9.75 ringgit, while Malayan Banking lost 1.8 percent to 9.65 ringgit.

— Bangkok slipped 0.81 percent or 11.52 points to close at 1,412.44.

Coal producer Banpu edged up 0.90 percent or 0.25 baht to 28 baht, while Bangkok Bank slipped 0.25 percent or 0.50 baht to 199.50 baht.

— Singapore fell 0.34 percent, or 10.95 points, to 3,192.08.

SingTel was down 1.59 per cent at Sg$ 3.710 while Wilmar was up 2.55 percent at Sg$ 3.62.

— Mumbai gained 0.19 percent, or 40.08 points, to 20,890.82.