Asian shares mostly lower, Tokyo up on weak yen

HONG KONG: Asian markets mostly fell on Thursday following two days of gains, while increasing optimism over the recovery in the US economy boosted the dollar.

Tokyo gained 0.40 percent by the break, Hong Kong fell 0.38 percent, Sydney shed 0.52 percent, Shanghai was 0.45 percent lower and Seoul was off 0.23 percent.

Investors took a breather after recent gains that were fuelled by Greece's successful debt swap with private creditors last week, strong US jobs data and upbeat comments from the Federal Reserve on US economy.

Tokyo exporters were lifted by the weakening yen, which fell to a fresh 11-month low against the dollar after the Fed doused any chance of monetary easing in the near term.

Adding to selling pressure on the yen was the Bank of Japan's decision last month to pump more cash into the country's stuttering economy.

The dollar rose to 84.13 yen in Tokyo against 83.68 yen late Wednesday in New York, while the euro advanced to 109.42 yen compared with 109.08 yen.

The euro bought $1.3006, compared with $1.3032 and in New York. (AFP)