Asia equities tumble in global retreat but dollar rules
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HONG KONG - Asian equity markets fell on Friday after a broad global rally, but the dollar strengthened against most other currencies as traders become increasingly confident the Federal Reserve will hike interest rates this month.
Investors took their cash off the table on profit-taking Thursday after the previous day's surge fuelled by Donald Trump's address to Congress, in which he promised massive infrastructure spending and tax cuts.
But with Fed boss Janet Yellen due to speak Friday the greenback has bounced back as experts say the bank is odds-on to tighten monetary policy in the face of an improving US economy.
