Asian stocks rose to a four-month high on Thursday after the Federal Reserve pledged to be patient with further interest rate hikes, signaling a potential end to its tightening cycle amid signs of slowing global growth.
Asian Stocks
- MSCI’s broadest index of Asia-Pacific shares outside Japan rose to its highest since Oct. 4 and was last up 0.9 percent.
- Japan’s Nikkei rose 1 percent.
- The Shanghai Composite Index rose 0.3 percent.
- South Korea’s KOSPI added 0.3 percent.
- The Dow and the Nasdaq rallied 1.7 percent and 2.2 percent, respectively.
Currencies
- The dollar index losses and slipped to a three-week low of 95.204.
- A weaker dollar helped nudge the euro to $1.1509 , its highest since Jan. 11.
- The greenback was slipped about 0.3 percent to a two-week low of 108.695 yen.
- The pound was a shade higher at $1.3127.
Commodities
- U.S. crude oil futures were up 0.7 percent at $54.59 per barrel.
Bonds
- 10-year U.S. Treasury yield extended its decline to as far as 2.674 percent, its lowest since Jan. 14.
Source: Investing.com
