Market Report – Dollar Down from 4-week Highs

Asian shares were down Tuesday, as a weaker dollar took the shine off of regional exporters.

Comments from Federal Reserve Chairman Ben Bernanke sparked worries about a sluggish U.S. recovery, pushing the dollar down from 4-week highs.

Weaker metals prices weighed on trading houses and commodities-linked firms, but plans for a $4.5 billion copper-gold project in Mongolia supported top miner BHP Billiton.

In Japan, passage of a new $80 billion stimulus budget was not enough to boost the Nikkei, which declined after six straight gains.

Japan Airlines dipped after the nation’s transport minister said no decision has been made on loan guarantees for the struggling carrier.

Shares of Geely Automobile Holdings, whose parent is bidding for Ford’s Volvo unit, were suspended after hitting a record high Monday.

Meanwhile, China’s No.5 car maker, BAIC, is in talks with General Motors on a partial sale of its Saab brand, to be manufactured in China based on older models.

(NTDTV)