Asian equity markets followed their U.S. counterparts higher on - TopicsExpress



          

Asian equity markets followed their U.S. counterparts higher on Thursday after the Federal Reserve said interest rates would not rise anytime soon. Traders awaited HSBCs May flash purchase manufacturing index (PMI) for China at 9:45am SIN/HK, which is widely expected to show a contraction for the fifth straight month. The banks final April reading came in at 48.1, which was below the governments April official reading of 50.4. Nikkei gains 1%. Japans benchmark Nikkei rose as exporters cheered a weaker currency. The yen bounced off a three-and-a-half month high of 100.8 per dollar hit overnight to sit comfortably above the 101 handle in early trade. Kospi up 0.2%. South Korean shares tracked Asia-wide gains thanks to support from blue-chips. Hyundai Motor,LG Electronics and Kia Motors all rose 1 percent in early trade. CNBC N225 14168.66 (+126.49) KS200 263.18 (+0.78) 0052 GMT
Posted on: Thu, 22 May 2014 00:53:52 +0000

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