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Fed’s reassurance lifts Asian shares higher on Thursday

26 Apr 2012 Evaluate

Market participants in the Asian region remained encouraged and most of the Asian counters snapped the day’s trade in the green on Thursday on news that Federal Open Market Committee (FOMC) remained committed to keeping low interest rates at least until late 2014, while Fed Chairman Ben Bernanke said the central bank was ready to ease monetary policy further if needed. The Fed’s statements provided confidence that recovery is on track with the security that someone has their back if things go pear shaped, while the earnings season continued to have a mixed impact across the region.

Meanwhile, Hong Kong shares ended higher Thursday, tracking gains on Wall Street and boosted by China Unicom's strong first-quarter results. Though, Chinese benchmark ended flat as heavyweight financial companies dropped following China Life Insurance’s lower-than-expected first-quarter net profit, offsetting gains in metal companies while, Japanese Nikkei share average ended flat on Thursday after dipping in and out of negative territory as a sluggish start to earnings season and wariness ahead of a Bank of Japan meeting dampened sentiment.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,404.70

-2.12

-0.09

Hang Seng

20,809.71

163.42

0.79

Jakarta Composite

4,180.31

16.66

0.40

KLSE Composite

1,579.69

0.34

0.02

Nikkei 225

9,561.83

0.82

0.01

Straits Times

2,981.47

1.69

0.06

Seoul Composite

1,964.04

2.06

0.10

Taiwan Weighted

7,521.35

-41.83

-0.55

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