Asia stocks Bounce, Dollar dips on Fed hike Doubts

Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. 

 

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent, recouping around half of Monday's loss. Stocks in South Korea .KS11 and Australia both rose around 0.6 percent. Japan's Nikkei dipped 0.1 percent as the yen turned around and starting nudging higher once more. 

 

A raft of Japanese data, from unemployment to retail sales, mostly beat analysts forecasts but did nothing to change expectations the Bank of Japan would eventually have to ease further. Fed Chair Janet Yellen on Friday said the case for a rate increase was strengthening, but provided little detail on when the Fed would next move. Vice Chair Stanley Fischer suggested a hike as soon as next month was possible. 

 

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