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Asia's share markets rise in wake of US rally | Asia's share markets rise in wake of US rally |
(about 1 hour later) | |
Markets in Asia rose in the wake of US markets' overnight records - inspired by Wednesday's apparent hardening of the US's stance on interest rates. | |
The Federal Reserve introduced a subtle change of tone, saying it would be "patient" in moving to normalise interest rates. | The Federal Reserve introduced a subtle change of tone, saying it would be "patient" in moving to normalise interest rates. |
That statement was seen as firmer than the previous "considerable time" before rates were raised. | That statement was seen as firmer than the previous "considerable time" before rates were raised. |
The Nikkei jumped 2.4% to close at 17,621.40 points. | The Nikkei jumped 2.4% to close at 17,621.40 points. |
The broader Topix rose 2.4% to 1,409.61. | The broader Topix rose 2.4% to 1,409.61. |
Japan's central bank kept monetary policy on hold after having surprised markets two months ago with a stimulus increase. | Japan's central bank kept monetary policy on hold after having surprised markets two months ago with a stimulus increase. |
Crude oil also pared its declines, rising by 1.4% in US trading. | Crude oil also pared its declines, rising by 1.4% in US trading. |
Australia's S&P/ASX200 index rallied 2.45% to close at 5,338.65 points while New Zealand stocks added 0.2% to 5,527.75. | Australia's S&P/ASX200 index rallied 2.45% to close at 5,338.65 points while New Zealand stocks added 0.2% to 5,527.75. |
Hong Kong's Hang Seng Index rose about 1.3% to close at 23,116.63 points while the Shanghai Composite gained 1.7% to reach 3,108.60 points. | |
A big mover was Chinese electric car-maker BYD, which surged nearly 20% in Hong Kong after shareholder Berkshire Hathaway denied it was looking to reduce its stake in the company. | |
Speculation that legendary US investor Warren Buffett was going to cut his holdings in BYD had sparked a record fall the day before. | Speculation that legendary US investor Warren Buffett was going to cut his holdings in BYD had sparked a record fall the day before. |
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