2016.11.1104:10:00UTC+00Asian Shares Slip Amid a Firm Dollar

Asian markets stumbled as the dollar rallied after Donald Trump's victory in the U.S. presidential race which dampened demand for emerging market assets. MSCI's broadest index of Asia-Pacific shares excluding Japan declined 1.4 percent.

Japan's Nikkei 225 climbed 0.18 percent. Australia's benchmark ASX 200 increased 0.79 percent, bolstered by the heavily-weighted financials subindex which rose 2.86 percent. Major miners also jumped, as Rio Tinto gained 2.44 percent, Fortescue Metals Group added 4.49 percent and BHP Billiton 2.13 percent higher. South Korea's Kospi fell 0.91 percent. China's Shanghai composite advanced 0.78 percent and the Shenzhen composite rose 0.531 percent. Hong Kong's Hang Seng dropped 1.45 percent.

The Jakarta Composite Index slipped by the most in a year while the Philippines Stock Exchange Index had its biggest decline since January. Indonesian shares fell three percent as the rupiah currency declined by over 2.5 percent to a 4-½ month low before it stabilized on the Indonesian central bank's intervention. The Malaysian ringgit also fell one percent to a 9 ½ month low.