Asian stocks trade mixed, Nikkei drops on firmer yen

The stocks on the Asian bourses were a mixed bag, as markets remain on the back foot amid Trump’s protectionist policies, after he announced the withdrawal form the TPP deal, fulfilling his campaigns promise.

Moreover, yen’s relative strength amid USD jawboning weighed on the domestic stocks, while negative news from Japan’s Takata, an automotive parts company, also heavily dampened the sentiment. Takata shares tumbled 13.50%, extending losses of more than 18% seen on Monday.

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While rest of Asia trades range-bound to higher, with any gains restricted in wake of a negative close on the Wall Street overnight and uncertainties over Trump’s polices and fiscal plans.

The Japanese benchmark, the Nikkei 225 index drops -0.30% to 18,828. The Australian benchmark, ASX 200 index rises 0.37% to 5,631 points. Mainland Chinese markets edge lower, with both Shanghai composite and Shenzhen’s CSI 300 index dropping -0.10% and -0.19% respectively. Hong Kong's Hang Seng gains +0.31% to 22,970.