Asia Markets: Japan shares rise on yen weakness, other Asia stocks drop

Asian shares were broadly down on Wednesday with the exception of Japan, where stocks rose after a stronger dollar pushed the yen lower.

The Nikkei Stock Average NIK, +0.97% was last up 1%, while Australia’s S&P/ASX 200 XJO, -0.83% fell 0.8% and Korea’s Kospi SEU, -0.25% was down 0.5%.

“Overall, the market is more cautious than bearish,” said Castor Pang, head of research at broker Core Pacific-Yamaichi International.

Overnight, the dollar gained on expectations that the U.S. Federal Reserve was inching closer to raising interest rates. The greenback USDJPY, +0.17% rose 1.1% against the Japanese yen in U.S.

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