Fri, Oct 11, 2013 - Page 15 News List

Fed still eyes reducing stimulus

NOT YET:The new nominee to head the US Federal Reserve, Janet Yellen, said she would stick to the bank’s easy-money policies and efforts to decrease joblessness


Asian markets were mixed yesterday as traders nervously awaited signs of progress in solving a budget stand-off in Washington that threatens to plunge the US into default.

Tokyo ended up 1.12 percent, or 156.87 points, at 14,194.71 thanks to the weaker yen, but Sydney dropped 0.11 percent, or 5.9 points, to 5,147.1 and Seoul was flat, edging down 1.36 points to close at 2,001.40.

Hopes that the Fed’s stimulus will stay in place a little longer helped emerging Asian markets, which have benefited from an investment splurge fuelled by the low US interest rates.

Jakarta was up 0.48 percent yesterday, Bangkok was 0.73 percent higher and Kuala Lumpur added 0.35 percent.

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