The dollar climbed against Asian currencies amid improving prospects for the U.S. economy. Japanese equities erased gains and Hong Kong and Chinese shares dropped, while nickel rallied to the highest in 14 months.
The monsoon in India, which provides more than 70 percent of annual rainfall, will be normal this year amid forecasts for the emergence of an El Nino that previously caused droughts, government officials said.
Japan could cut its corporate tax rate as early as next fiscal year by 2 to 3 percentage points, gradually lowering the levy toward 25 percent in later years to boost the nation’s competitiveness, a tax panel member said.
Taiwan dollar forwards declined for a fourth day, the longest losing streak in more than three months, on speculation the island’s central bank will favor a weaker currency as the Chinese yuan declines.
Thailand’s stock exchange will exceed its target for initial share sales this year as foreign funds return, even as a political deadlock raises the risk of further street protests, an exchange official said.