Asian stocks gain on dovish-sounding Fed, dollar on defensive

Asian stocks gain on dovish-sounding Fed, dollar on defensive Asian shares gained early on Thursday and the dollar was on the defensive after suffering substantial losses following the US Federal Reserve’s move to reduce the number of interest rate hikes planned for this year. The potential for more money to continue flowing into commodities and equities, rather being lured by higher US interest rates, boosted crude oil and emerging market stocks.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.9 percent and Australian stocks added 0.8 percent.

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Posted in: Indian Market Tips