2017.01.3004:25:00UTC+00Asian Markets Lower as Trump’s Immigration Policy Eyed

Asian stocks retreated as investors focused on the international response against the immigration policy of U.S. President Donald Trump, that has weighed on the dollar. Many countries have criticized Trump's executive order to block refugees from seven predominantly Muslim countries into entering the U.S. for a four-month period.

Japan's Nikkei 225 finished 0.51 percent lower at 19,368.85. Shares of Toshiba dropped 3.69 percent to 250.3 yen a share, following an earlier decline of about 5.8 percent, on an Asahi Shimbun news report that many banks will sue the firm on management mistakes. Various reports also claimed that Toshiba chairman Shigenori Shiga and President Daniel Roderick of Toshiba's U.S. nuclear subsidiary will both step down from their respective positions.

Australia's ASX 200 fell 0.92 percent at 5,661.5, with broad based declines across all sub indexes aside from it gold sub index that climbed 1.2 percent. Shares of Gold miner Newcrest Mining advanced 1.27 percent at A$21.45 per share, following the release of its production report for the December quarter. Other gold miners were in positive territory, as Evolution Mining rose 1.42 percent at A$2.15 a share while Alacer Gold added 2.58 percent at A$2.39. Shares of QBE Insurance was 0.15 percent higher at A$12.35 after news that Allianz approached it for a potential takeover deal.

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