Japanese shares climbed on Monday, boosted by a weaker yen, while other Asian markets struggled after comments from U.S. central bankers on Friday suggested interest rates could be raised sooner than expected.
Remarks from U.S. Federal Reserve officials on Friday about possible interest rate hikes this year had pushed up the dollar index, which measures the greenback against a basket of currencies, from levels near 94.300 before the gathering in Jackson Hole to around 95.500 afterward. Around 2:35 p.m. HK/SIN, the dollar index traded at 95.558.
Dollar strength also pushed the dollar/yen pair higher, trading at 102.37 on Monday afternoon local time from levels near 100.1 on Friday before the Jackson Hole remarks.
Also weighing on the yen, Bank of Japan Governor Haruhiko Kuroda said on Saturday at Jackson Hole that the central bank would approve further monetary easing without hesitation after the previous week's consumer prices data showed a dip in inflation.