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Ben Bernanke’s stimulus continuation statement boosts Asian markets

11 Jul 2013 Evaluate

All the Asian equity indices, barring Japanese Nikkei, are trading in fine fettle with major indices garnering gains of over two percent in Thursday’s morning deals, after the US Federal Reserve Chairman Ben Bernanke vowed to continue to stimulate the economy. Markets like Shanghai Composite, Hang Seng, Jakarta Composite and Seoul Composite all edged higher by over two percent. However, Japanese Nikkei declined by over half a percent, after the dollar plunged against the yen on speculation that the Federal Reserve will keep its stimulus programme in place for some time.

Shanghai Composite surged 44.94 points or 2.24% to 2,053.07, Hang Seng soared 449.18 points or 2.15% to 21,353.74, Jakarta Composite increased 109.55 points or 2.45% to 4,588.19, KLSE Composite rose 9.36 points or 0.53% to 1,778.07, Straits Times added 47.00 points or 1.47% to 3,235.04, Seoul Composite jumped 42.74 points or 2.34% to 1,866.90 and Taiwan Weighted was up by 157.97 points or 1.97% to 8,169.66.

On the flip side, Nikkei 225 was down by 80.25 points or 0.56% to 14,336.35.

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