The Asian markets have rejoiced with the Fed decision and there is all green in the regional market with most of the indices trading higher by over two percent. US Federal Reserve’s announcement that it will buy mortgage-backed securities to bolster economic growth has buoyed the markets across the globe. Japanese and the Chinese markets moved higher as the exporters to the US advanced. Commodities too have climbed after the Fed announcement on speculation that the added stimulus will boost demand. The Korean market too has surged by over two and half a percent despite the Bank of Korea, after the rate decision saying that the nation’s growth momentum appears to be slackening. The central bank unexpectedly left interest rates unchanged in its last meeting.
Shanghai Composite was up by 8.44 points or 0.40% to 2,118.82, Hang Seng surged by 518.63 points or 2.59% to 20,566.26, Jakarta Composite was higher by 81.70 points or 1.97% to 4,251.30, KLSE Composite gained 9.64 points or 0.59% to 1,638.04, Nikkei 225 surged by 161.90 points or 1.80% to 9,156.44, Straits Times added 39.72 points or 1.34% to 3,069.16, Kospi Composite surged by 51.31 points or 2.61% to 2,001.38 and Taiwan Weighted rushed by 118.80 points or 1.56% to 7,696.94.