Asian shares gain on Fed-led sentiment
Asian share markets traded positively during their early Thursday session, with investors’ sentiment still supported by the U.S. Federal Reserve’s latest remarks about asset tapering and monetary policies.
Hong Kong’s Hang Seng Index, China’s Shanghai Composite, and the Shenzhen Composite all advanced with 1.96%, 0.01%, and 1% gains respectively.
Japan’s benchmark index Nikkei traded 0.15% higher, while South Korean shares hiked 0.27%. Australia bucked the upswing as its benchmark index ASX 200 dropped 0.09% amid surging coronavirus infections in Sydney.
After a week of declines brought about by the Fed’s sudden hawkish shift, the central bank had released yet again some statements to reaffirm the markets. Fed Chairman Jerome Powell reassured that the current policy rates would remain loose, but then he indicated that stimulus withdrawal could happen in the coming months.