Strong dollar hits Asian stock gains in first half of 2024

TOKYO — The influence of the U.S. on Asian financial markets has become more pronounced this year as its robust dollar and relatively high interest rates have dragged on everything from regional currencies to Japanese stocks.

For dollar investors, weak Asian currencies have cut into returns on domestic shares. Many market watchers predict the trend will continue until later in the year, when the U.S. Federal Reserve is likely to start cutting interest rates.