20th November 2013
Asian stock markets have generally traded lower today (November 20th), with investors expressing caution ahead of the publication of the minutes from the Federal Reserve's latest policy meeting later in the session.
The US central bank's chairman Ben Bernanke addressed the National Economists Club in Washington yesterday and reiterated the Fed's commitment to an accommodative monetary policy, echoing comments made by deputy chair Janet Yellen, who has been formally nominated as his successor.
Mr Bernanke said the bank will maintain its monetary stimulus for as long as is necessary to stimulate the country's economy and stated the quantitative easing programme will only be scaled back when there is evidence of sustainable improvements in the country's labour market.
The minutes from the Fed's October policy meeting will now be scrutinised for further indications as to policymakers' intentions.
In late Asian trade, Australia's ASX/200 index closed 0.84 per cent lower and the Nikkei 225 shed 0.33 per cent to 15,076.08 points. Hong Kong's Hang Seng continued its recent ascent, adding a further 0.3 per cent with sentiment still supported by the economic reforms outlined late last week.
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