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Markets in Asia decrease as dollar firms; Nikkei loses 250 points

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Asian bonds declined on a initial trade day of a month after finishing Feb with losses. Declines in a segment also tracked pointy waste seen stateside in a prior session.

The Nikkei 225 declined 1.39 percent, or 307.24 points, on a initial day of March. Automakers, record bonds and financials traded lower.

Heavyweight SoftBank Group mislaid 0.94 percent, Toyota slid 1.71 percent and attire association Fast Retailing was off 0.78 percent. Among production names, Fanuc declined 1.74 percent and Kyocera strew 1.75 percent.

In Sydney, a SP/ASX 200 declined 0.74 percent. Losses were led by a appetite sub-index, that fell 2.05 percent in a morning. Mining majors were also weaker in a morning, with Rio Tinto descending 3.96 percent and Fortescue Metals losing 1.69 percent.

Oil producers were reduce in early trade as wanton prices remained soft: Santos fell 1.49 percent and Oil Search mislaid 4.37 percent.

Australia’s “Big Four” banks were also weaker in a day, with ANZ down 1.19 percent while a peers available slighter losses.

Hong Kong’s Hang Seng Index extended waste in early trade, circumference down by 0.6 percent. Financials were in disastrous domain in a morning, with insurer AIA descending 1.07 percent and heavily weighted HSBC off by 0.51 percent.

Property developers were a churned picture: Country Garden tacked on 0.99 percent while CK Asset slipped 0.37 percent. Index heavyweight Tencent shrugged off broader marketplace view to trade aloft by 1.11 percent.

Mainland markets traded somewhat aloft after new losses: The Shanghai combination edged adult by 0.15 percent and a Shenzhen combination combined 0.34 percent in a early going.

Caixin production PMI for Feb expelled on Thursday came in during 51.6, a hold above a 51.3 foresee in a Reuters poll. Official production PMI had missed forecasts, with analysts observant a impact of a Lunar New Year holiday on production activity.

Markets in South Korea and Thailand were sealed for holidays on Thursday.

Asian markets finished Feb with waste after a tellurian subjection in batch markets progressing that month. The Shanghai combination and Hang Seng Index were down 6.4 percent and 6.2 percent, respectively. That was their misfortune month in some-more than dual years.

U.S. bonds fell on Wednesday notwithstanding a Dow Jones industrial normal advancing as most as 166 points progressing in a session, with a 30-stock index shutting reduce by 1.5 percent during 25,029.20.

For a month, a Dow and SP 500 sealed reduce by 4.3 percent and 3.9 percent, respectively.

Dollar steadies

In currencies, a dollar index, that marks a greenback opposite a basket of 6 currencies, firmed to trade during 90.703 by 9:34 a.m. HK/SIN after touching a five-week high in a overnight session.

The dollar had firmed after new Federal Reserve Chairman Jerome Powell gave a certain comment of a U.S. economy on Tuesday and signaled seductiveness rates could arise some-more than 3 times this year.

Powell is due to residence Congress again on Thursday during U.S. marketplace hours.

Gains in a dollar index also came as a euro slid in a final session, forward of elections in Italy during a weekend. The banking was a hold softer during $1.2184. Meanwhile, argent extended waste to trade during $1.3746 after Wednesday’s pointy tumble that came about on Brexit worries.

Against a yen, however, a dollar was solid during 106.63, compared to levels around a 107 hoop seen during Asian trade in a final session.

On a appetite front, prices were solid following a overnight dump in prices, after information reflected an boost in U.S. stockpiles. U.S. West Texas Intermediate were prosaic during $61.64 per barrel. Brent wanton futures, meanwhile, slipped 0.17 percent to trade during $64.62.

— CNBC’s Fred Imbert contributed to this report.