Shado Baker
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Shado Baker in Asian Markets,

Japan, Aussie stocks knocked by weak dollar, commodity prices

Asian shares were mostly lower Monday, with stocks in Japan and Australia underperforming notably as further declines in the U.S. dollar continued to weigh on investor sentiment.

A fresh pullback in commodity prices also hurt equities, despite the weaker dollar. Many assets in the sector are denominated in the dollar and often rise when the currency falls.

Concern about policy direction from the White House and Capitol Hill since the failure to repeal the Affordable Care Act and investigations into contacts with Russians before November’s election have helped fuel dollar selling. The currency ended the week at its worst level since late September, according to the WSJ Dollar Index.