Tokyo — The dollar slipped broadly on Monday after US President Donald Trump struck a protectionist tone in his inauguration speech, offsetting optimism that he will follow through on promises of tax cuts and other stimulus. Japan’s Nikkei dropped 1.1% while shares in Australia dropped 0.7% after the Trump administration, on its first day in office, declared its intention to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact that Japan and Australia also have signed up for. Other Asian shares were resilient, however, in part due to a relief that there was no negative surprises, with Trump refraining from labelling China as a currency manipulator for now, an accusation he made while campaigning. Hong Kong shares rose 0.6% and Taiwan shares rose 0.8%, helping to boost MSCI’s broadest index of Asia-Pacific shares outside Japan 0.4%. US stock futures dipped 0.2%, erasing gains made on Friday. In his inaugural address, Trump pledged to end what he called an "Americ...
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