* European bourses expected to open higher
* Wall Street slips as Trump fails to offer economic plan
* Dollar index pulls away from last week's 14-year highs
By Lisa Twaronite
TOKYO, Jan 13 Asian shares dipped on Friday but
were on track for weekly gains while the dollar was poised for a
losing week, with investors disappointed that President-elect
Donald Trump failed to elaborate on stimulus plans at a news
conference two days ago.
CMC Markets chief market analyst Michael Hewson expects
European bourses to post opening gains.
But investors have started to price in the potential that
the "reflation scenario may well come up short," Hewson said, as
they reassess what to expect from Trump in the coming weeks.
Investors largely shrugged off trade data from China.
December exports fell by a more-than-expected 6.1 percent from a
year earlier, while imports beat forecasts slightly, government
data released on Friday showed.
As the world's largest trading nation, China could come
under pressure from protectionist measures this year if Trump
follows through on his campaign pledges to brand it a currency
manipulator and impose heavy tariffs on the country's imports.
"The trend of anti-globalization is becoming increasingly
evident, and China is the biggest victim of this trend," customs
spokesman Huang Songping told reporters.
"We will pay close attention to foreign trade policy after
Trump is inaugurated president," Huang said. Trump will be sworn
in on Jan. 20.
MSCI's broadest index of Asia-Pacific shares outside Japan
was down 0.1 percent, after rising to its
highest levels since late October in the previous session. It
was up 1.9 percent for the week.
China's benchmark CSI300 index was slightly lower
in afternoon trading, while the Shanghai Composite Index
slipped 0.4 percent.
South Korean shares shed 0.5 percent, roiled by an
influence-peddling scandal that could topple President Park
Geun-hye. Samsung Group leader Jay Y. Lee left the
South Korean special prosecutor's office early on Friday, more
than 22 hours after arriving for questioning on bribery
On Wall Street, major indexes finished Thursday lower,
chilled by Trump's failure to address economic policy plans at
his first news conference since winning the Nov. 8 election.
Japan's Nikkei stock index finished up 0.8 percent,
though it still ended the week down 0.9 percent.
Many investors remained hopeful that markets will get a lift
from a wave of financial deregulation that could follow Trump's
inauguration, including a rollback of some of the Dodd-Frank
financial reform measures that Congress enacted after the
financial crisis and bank bailouts.
"Market weakness at the end of the week may continue, but
anticipation of a Dodd-Frank repeal possibility spurs an
optimistic outlook," said Hiroki Allen, chief representative of
Superfund Japan in Tokyo.
Still, this week's stronger yen dented demand for Japanese
shares. The dollar was flat at 114.75 yen after skidding
as low as 113.75 on Thursday, its lowest since Dec. 8. It was on
track to shed 1.8 percent for the week, with some investors
saying the yen's rise has room to run and others suggesting it
might be close to a top.
"It is unlikely that the yen strengthens further against the
dollar," Yukio Ishizuki, FX strategist at Daiwa Securities in
Tokyo. "The U.S. Treasuries yield is expected to rise
considering rising U.S. inflation expectations."
The yields on 10-year and 30-year Treasury notes had touched
their lowest levels since November on Thursday before retaking
some lost ground, and were modestly higher in Asia. The 10-year
yield stood at 2.367 percent, compared with
Thursday's U.S. close of 2.361 percent.
The dollar wallowed around five-week lows against a currency
basket, even as the dollar index edged up slightly to
101.37. It was down 0.8 percent for the week.
The dollar index had scaled 14-year peaks this month, on
speculation that Trump's policies would spur growth and
inflation, and prompt the Federal Reserve to raise interest
rates at a faster pace than previously expected.
The euro inched 0.1 percent higher to $1.0628, well above
last week's 14-year low of $1.0340 and poised to gain 0.9
percent for the week.
Crude oil prices extended gains, bolstered by the weaker
dollar as well as news that Saudi Arabia has cut oil output to
its lowest in almost two years and plans further reductions.
Brent crude rose 0.1 percent to $56.04 a barrel,
while U.S. crude was up slightly at $53.02.
Spot gold slipped 0.1 percent to $1,195.16 an ounce,
as investors locked in gains on its overnight surge to
seven-week highs above $1,200.
London copper reversed earlier gains and slipped 0.5
percent to $5,819 a tonne.
(Additional reporting by Yuzuha Oka in Tokyo, and Lusha Zhang,
Elias Glenn, Sue-Lin Wong and Kevin Yao in Beijing; Editing by