(MENAFN– ecpulse)
Asian equities ended higher on Thursday as sentiment was supported by fresh records at fresh record highs after remarks made by the Federal Reserve Vice Chairman Janet Yellen, who is likely to become the next governor, while the weaker yen drove Japan higher.
Yellen indicated the US central bank will continue to support the economy through its stimulus measures, adding that the Federal Reserve needs to do more work to support the economic recovery before monetary policy should return to normal.
- The MSCI Asia Pacific Index rose 1.1% to 140.00 as of 15:14 in Tokyo
In Japan, Nikkei closed at its highest levels in six months after the yen extended its losses trading near the 100-handle after Finance Minister Taro Aso highlighted the importance of currency intervention. On the economic front, growth slowed in 3rd quarter.
- Nikkei 225 closed 2.12% higher at 1 4876 .41
- Topix closed 1.19% higher at 1218.55
In China, stocks reversed losses to close in positive territory after hitting its lowest levels since September 2 amid rising caution due to worries of tight liquidity after the central bank withdrew funds from money markets for a second week, dragging financials lower.
- China’s CSI 300 Index closed 0.72% higher at 2304.50
- Hong Kong’s Hang Seng closed 0.82% higher at 22649.15
In Australia stocks recovered after Wednesday`s 4-week low due to strong gains in banks, while in South Korea Kospi rebounded after the central bank left its main policy rate unchanged at 2.5% confirming the economy would see a steady recovery trend.
- The S&P/ASX 200 closed 0.68% higher at 5355.43
- New Zealand’s NZX 50 closed 0.17% higher at 4927.18
- Kospi closed 0.20% higher at 1967.56
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