All the Asian markets are trading in green, rejoicing the testimony of Janet Yellen, the likely next chairwoman of the Federal Reserve, defending quantitative easing that signaled stimulus will be maintained until the US economy improves. Chinese market recovered from last session’s fall in a negative reaction to the unclear communique issued by China's Communist Party following the completion of the Third Plenum meeting. The Japanese market has surged after the yen weakened against the dollar by over half a percent, while the Korean market moved higher after won headed for the biggest gain since September 19, as the Bank of Korea kept its seven-day repurchase rate at 2.5 percent.
Shanghai Composite was up by 9.44 points or 0.45% to 2,097.38, Hang Seng surged by 196.51 points or 0.87% to 22,660.34, Jakarta Composite strengthened by 62.63 points or 1.46% to 4,361.94, KLSE Composite added 4.17 points or 0.23% to 1,786.66, Nikkei 225 jumped 376.71 points or 2.59% to 14,951.73, Straits Times was up by 27.41 points or 0.87% to 3,194.41.Seoul Composite gained 12.46 points or 0.63% to 1,976.02 and Taiwan Weighted gained 41.92 points or 0.52% to 8,146.88.
