Asian shares cautious, dollar hits low ground
Asian share markets recorded a subdued trading session on Thursday, with Wall Street performing weakly as a selloff in Coinbase dragged technology-related shares. Meanwhile, the dollar index traded poorly near its one-month low.
After two consecutive days of gains, MSCI’s broadest index of Asia-Pacific shares went inactive. It was last seen at 690.53, placing below its record high of 745.89 in February. Japan’s benchmark index Nikkei advanced 0.2%, while South Korea’s KOSPI gained minimally.
Asia’s subdued performance could be attributed mainly to a sharp selloff in Coinbase on its listing day. This, in turn, dragged Wall Street’s tech-heavy Nasdaq. In currency markets, the U.S. dollar plunged further, marking its fourth straight day of decline against its major peers.