Asian equity benchmarks are trading up in the early deals on Thursday, with dovish comments from the US Federal Reserve and higher crude oil prices overnight lifting investor sentiment. Overnight, the Federal Reserve announced its widely expected decision to leave its benchmark interest rate unchanged in a range from 0.25 to 0.50 percent amid lingering concerns about the health of the economy. The Fed now see only two interest rate hikes instead of four this year. China stocks rose as strong gains in internet and technology stocks offset selling in the finance sector. Meanwhile, Japanese stocks gained after the US Federal Reserve signalled fewer interest rate hikes this year, boosting investors' appetite for riskier assets.
Nikkei 225 added 152.81 points or 0.90% to 17,127.26, Hang Seng gained 291.09 points or 1.44% to 20,548.79, Jakarta Composite surged 27.53 points or 0.57% to 4,888.97, Shanghai Composite increased 15.97 points or 0.56% to 2,886.40, Straits Times strengthen 31.99 points or 1.12% to 2,876.20, FTSE Bursa Malaysia KLCI jumped 11.08 points or 0.65% to 1,704.51, KOSPI Index spurt 24.41 points or 1.24% to 1,999.31, and Taiwan Weighted was up by 47.59 points or 0.55% to 8,746.73.