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Asia Markets: Nikkei rises despite Toshiba’s dive, as Asian markets hold steady

Asian stocks on Thursday mostly ended near Wednesday’s closing levels ahead of President-elect Donald Trump’s inauguration, but Japanese equities jumped as the dollar rebounded.

That move in the dollar came after overnight comments from Federal Reserve Chairwoman Janet Yellen that were interpreted hawkishly. She suggested that steady interest-rate hikes are anticipated the next several years, with her comments coming hours after the release of the strongest on year December U.S. consumer inflation in 2 1/2 years.

“I think the market is behind the Fed’s ability to hike rates,” said Kay Van-Petersen, Asia macro strategist at Saxo Capital Markets. “A stronger dollar should put more pressure on some emerging market forex but it generally should be good for the equity markets.

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