Yellen comments boost Nikkei to 4-month high

Asian stock markets have generally advanced today (November 14th), amid speculation the Federal Reserve will maintain its quantitative easing programme into 2014.

The US central bank's monetary stimulus has been seen as the main driver of growth in global equities over the course of 2013, but recent positive economic data in the country had led to expectations the Fed will reduce its asset purchases at its December policy meeting.

However, Janet Yellen - who has been formally nominated to succeed Ben Bernanke as chair of the bank at the end of January 2014 - released a statement yesterday noting there is "more work to do" in terms of the country's recovery.

This has been interpreted as a sign the Fed will look to keep its stimulus in place for longer than previously expected.

In late Asian trading, Hong Kong's Hang Seng gained 0.9 per cent, while the Nikkei 225 index added 2.12 per cent to end the session on 14,876.41 points - its highest level in four months.

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