Stocks in the Asian region were seen trading higher on Thursday; with Japanese equities leading after the US Federal Reserve Chair Janet Yellen said the interest rates will remain low as the US growth rebounds.
Japan
The Japanese benchmark Nikkei 22 index rallied 1.62%, closing at 15,361.16 points, while Tokyo’s Topix index gained 1.59% to close at 1,269.04 points. The glass manufacturer Nippon Sheet Glass surged 15.32%, while shares in Pacific Metals slid 3.78% lower.
On Thursday, the Bank of Japan (BoJ) board member Yoshihisa Morimoto said Japan’s economy is growing at a moderate pace and expected to maintain the positive income, expenditure and output.
The Bank of Japan (BoJ)’s monetary easing is expected to support the economy as inflation forecasts heighten, Morimoto added.
China
Hong Kong’s Hang Seng index edged 0.25% higher to 23,241.53 points, while the Chinese benchmark Shanghai Composite fell 1.09% to 2,033.37 points.
Lenovo was leading gains during the session, rising by 2%, while Belle International added 1.95% and Bank of China slid 6.18%.
On Wednesday, Premier Li Keqiang said he pledged to maintain China’s economic expansion estimates.
“The Chinese government is adjusting its economic operations to ensure the minimum growth rate is 7.5 percent, the level to ensure job creation,” Li said in a speech in London.
South Korea’s Kospi index added 0.13%, closing at 1,992.03 points, while Australia’s benchmark S&P/ASX 200 index rose 1.46% higher, closing the session at 5,461.40 points.
The world’s biggest miner, BHP Billiton (BHP) saw the most gains during the session as shares climbed 2.2% to A$36.43 in Sydney, while Rio Tinto added 2.3% to A$59.24.
Fed Comments
The Federal Open Market Committee continues to cut its bond purchasing, cutting its asset purchases by a further $10 billion to $35 billion as predicted by analysts, while the main interest rate remained unchanged between 0% and 25%.
The Federal Reserve (Fed) forecasted that the interest rate target in the US will be 1.13% by 2015 end and 2.5% in 2016. The Fed lowered its economic growth forecast for this year, estimating the economic growth between 2.1% to 2.3%, compared to 2.8% to 3% forecasted in March. The unemployment rate is expected to come in at 6% to 6.1% at the year end, from 6.1% to 6.3% estimated in March.
Fed Chair Janet Yellen said the climb in the housing sector, equity prices, monetary policy and the improved global economy should boost the US economy, the world’s largest economy.
Stocks – Europe
European stocks opened higher on Thursday as investors digest the latest Federal Reserve (Fed) comments suggesting interest rate will remain low.
The European Euro Stoxx 50 climbed 0.79%, starting the session at 3,305.11, while the German DAX rose 0.89% higher to 10,019.02. While the French CAC 40 edged 0.83%, opening at 4,568.14, while UK’s benchmark FTSE 100 gained 0.65% at 6,822.51.
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Stocks – Asia
Stocks in the Asian region were seen trading higher on Thursday; with Japanese equities leading after the US Federal Reserve Chair Janet Yellen said the interest rates will remain low as the US growth rebounds.
Japan
The Japanese benchmark Nikkei 22 index rallied 1.62%, closing at 15,361.16 points, while Tokyo’s Topix index gained 1.59% to close at 1,269.04 points. The glass manufacturer Nippon Sheet Glass surged 15.32%, while shares in Pacific Metals slid 3.78% lower.
On Thursday, the Bank of Japan (BoJ) board member Yoshihisa Morimoto said Japan’s economy is growing at a moderate pace and expected to maintain the positive income, expenditure and output.
The Bank of Japan (BoJ)’s monetary easing is expected to support the economy as inflation forecasts heighten, Morimoto added.
China
Hong Kong’s Hang Seng index edged 0.25% higher to 23,241.53 points, while the Chinese benchmark Shanghai Composite fell 1.09% to 2,033.37 points.
Lenovo was leading gains during the session, rising by 2%, while Belle International added 1.95% and Bank of China slid 6.18%.
On Wednesday, Premier Li Keqiang said he pledged to maintain China’s economic expansion estimates.
“The Chinese government is adjusting its economic operations to ensure the minimum growth rate is 7.5 percent, the level to ensure job creation,” Li said in a speech in London.
South Korea’s Kospi index added 0.13%, closing at 1,992.03 points, while Australia’s benchmark S&P/ASX 200 index rose 1.46% higher, closing the session at 5,461.40 points.
The world’s biggest miner, BHP Billiton (BHP) saw the most gains during the session as shares climbed 2.2% to A$36.43 in Sydney, while Rio Tinto added 2.3% to A$59.24.
Fed Comments
The Federal Open Market Committee continues to cut its bond purchasing, cutting its asset purchases by a further $10 billion to $35 billion as predicted by analysts, while the main interest rate remained unchanged between 0% and 25%.
The Federal Reserve (Fed) forecasted that the interest rate target in the US will be 1.13% by 2015 end and 2.5% in 2016. The Fed lowered its economic growth forecast for this year, estimating the economic growth between 2.1% to 2.3%, compared to 2.8% to 3% forecasted in March. The unemployment rate is expected to come in at 6% to 6.1% at the year end, from 6.1% to 6.3% estimated in March.
Fed Chair Janet Yellen said the climb in the housing sector, equity prices, monetary policy and the improved global economy should boost the US economy, the world’s largest economy.
Stocks – Europe
European stocks opened higher on Thursday as investors digest the latest Federal Reserve (Fed) comments suggesting interest rate will remain low.
The European Euro Stoxx 50 climbed 0.79%, starting the session at 3,305.11, while the German DAX rose 0.89% higher to 10,019.02. While the French CAC 40 edged 0.83%, opening at 4,568.14, while UK’s benchmark FTSE 100 gained 0.65% at 6,822.51.
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