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17 Mar 2016
Asian equities and currencies jump on dovish Fed
Asian shares rallied across the board as buying interest spiked after he US Federal Reserve reduced the number of interest rate hikes expected this year.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed to a two-month high and traded at least 1.5% higher on the day. Japanese Nikkei was weighed down by strong Yen. The index is currently trading 0.20% lower on the day.
Asian equities took cues from risk-on action on Wall Street. The S&P 500 closed at its highest level this year following dovish Fed.
Among regional indices, Australian stocks added 0.8%, South Korea's Kospi rose 1.2% and Shanghai was up 0.6%.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed to a two-month high and traded at least 1.5% higher on the day. Japanese Nikkei was weighed down by strong Yen. The index is currently trading 0.20% lower on the day.
Asian equities took cues from risk-on action on Wall Street. The S&P 500 closed at its highest level this year following dovish Fed.
Among regional indices, Australian stocks added 0.8%, South Korea's Kospi rose 1.2% and Shanghai was up 0.6%.