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Asian markets trade higher on Fed’s stand for monetary stimulus

27 Feb 2013 Evaluate

Asian equity indices, after declining in previous session, have rebounded on Wednesday’s morning trade as US equities rose on solid data and the Federal Reserve’s affirmation of its commitment to monetary stimulus, but investors remained wary of political gridlock in Italy reigniting the euro zone financial crisis. Most of the Asian markets are trading in green terrain barring Japan, which is down by three fourth of a percent as the yen rose against dollar.

Shanghai Composite rose 7.81 points or 0.34% to 2,301.15, Hang Seng surged 104.40 points or 0.46% to 22,624.09, Jakarta Composite strengthened 26.59 points or 0.57% to 4,689.62, KLSE Composite added 1.65 points or 0.10% to 1,625.83, Straits Times jumped 7.39 points or 0.23% to 3,261.65, KOSPI Composite increased 4.94 points or 0.25% to 2,004.95 and Taiwan Weighted was up by 19.62 points or 0.25% to 7,900.52.

On the flip side, Nikkei 225 was down by 84.95 points or 0.75% to 11,313.86.

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