19th December 2014
Asian markets rose on Thursday as the US Federal Reserve indicated it would maintain a patient approach to raising interest rates, with no prospect of a rise until 2015.
The Nikkei Stock Average rose by 2.3 per cent to finish at 17,210.05, while Hong Kong’s Hang Seng climbed 1.1 per cent to 22,832.21. Australia's S&P/ASX 200 index was up one per cent, MarketWatch reported.
In forex trading, the yen weakened after the Bank of Japan voted on Friday to hold monetary policy stable, providing a more optimistic view of the economy.
The dollar rose 0.5 percent against Japan's currency to 119.40 yen, according to Reuters, while the euro rose about 0.4 per cent to 146.58 yen.
Bloomberg reports that the collapsing oil price has led investors to exit commodities trading at the fastest pace in six years, as corn, oil and gold decline towards their production costs.
Exchange data shows there has been a 6.5 per cent fall in open interest in raw-material futures and options, heading for the biggest second-half slump since 2008.
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