19th November 2013
Asian stock markets have generally declined today (November 19th), with uncertainty persisting over the Federal Reserve's plans regarding its quantitative easing programme.
Much of the growth in global equities over the course of 2013 has been attributed to the US central bank's stimulus programme and deputy chair Janet Yellen - who has been nominated to succeed Ben Bernanke as Fed chief - indicated last week the asset purchases will be maintained into next year.
Speaking yesterday, New York Fed president William Dudley said he is becoming increasingly confident the US economy is improving. The voting member of the Fed's policy committee added that the coming months are likely to see the factors acting as a risk to growth ease.
Following his comments, the yen strengthened against the dollar, which traditionally sends the Nikkei 225 lower. The Tokyo blue-chip index closed down by 0.25 per cent at 15,126.56 points.
Banking stocks weighed on Australia's ASX/200, which shed 0.59 per cent, while Hong Kong's Hang Seng climbed by 0.2 per cent, heading towards a nine-month high.
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