Asian markets hit by US fears, weak yen lifts Tokyo

Asian markets were mostly lower on Thursday after Barack Obama challenged Republicans to accept tax hikes for the rich as part of any deal to averting a fiscal cliff.

Tokyo’s Nikkei was the only index in positive territory as the yen eased after Japan’s Prime Minister announced a general election for next month, which is expected to be won by the opposition.

A close eye is also being kept on Beijing, where China will unveil it leaders for the next 10 years, with investors hoping for reform-minded lawmakers to run the world’s number two economy.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1082917/asian-markets-hit-us-fears-weak-yen-lifts-tokyo