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Asian markets rally om posititve Fed stance on rates

  • Regular
  • Asian Market
  • 1 month ago
  • 29

Asian stocks surged as the Fed takes a more patient stance on raising rates and the possible halting of a balance sheet runoff.

Mainland China’s Shanghai composite rose by 0.3% while in Hong Kong, the Hang Seng increased by 0.5% as Lenovo, Sunny Optical and AAC posted gains while HSBC slid by 1.7%.

Seoul’s Kospi remained largely flat as Hyundai Motors gained 0.8%.

The Japanese Nikkei 225 climbed by 0.3% as Honda and Ratuken gained 2.3% and 4.7% respectively.

Finally, the ASX 200 rose by 0.7% as the banking sector bounced back from yesterday’s lacklustre performance, with ANZ Banking gaining 1.8% and the Commonwealth Bank of Australia climbed by 2%.

 

 

 

Source: Smart Trend Team