Asian equities opened mixed on Wednesday with Japanese shares leading gains for a second day as investors weighed the impact of a stronger dollar.
The U.S. dollar index jumped to an over one-year high overnight on robust economic data. The pace of manufacturing growth soared to a three-year high in August while July construction spending was at its highest in over five years. The stronger dollar weighed on commodities overnight, pushing Brent crude oil futures to their lowest levels since May 2013 and gold prices sliding nearly 2 percent.
The Bank of Japan kicks off a two-day policy meeting with a decision due on Wednesday while China’s services purchasing manager’s index for August is scheduled for release today.