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Asia equities mixed as dollar at 10-month low

Firmer local currencies undermined major Asia Pacific stock markets on Tuesday.

The worst off in the region was Sydney’s S&P/ASX 200 index with a drop of 1.1 per cent. Australian financial stocks were down 1.6 per cent, while the materials segment shed 0.5 per cent.

Hong Kong’s Hang Seng index was off 0.1 per cent as a 0.2 per cent drop in financials offset gains elsewhere. Shares in developer Sunac fell as much as 13 per cent as Chinese media reported that China Construction Bank had been instructed to review the company’s credit risks.

In Tokyo the Topix was down 0.6 per cent with consumer discretionary stocks dropping 0.9 per cent.

The dollar index, a trade-weighted measure of the currency, dropped to a ten-month low at 94.784, down 0.4 per cent from levels late in the New York day.