Stocks in Asia Edge Higher on Thursday as Fed Keeps Policy Rate near Zero

Stocks in Asia edged higher after the Fed kept its interest rates near zero and continued buying $120 billion of bonds each month.

Stocks in Asia edged higher in the morning session on April 29, 2021, after last night the U.S. Federal Reserve kept its benchmark interest rates near zero and continued buying at least $120 billion of bonds each month.

 

As of 9:03 local time in Thailand, Nikkei rose 0.21%, SSEC increased 0.19%, HSI jumped 1.05%, ASX 200 edged 0.34% higher and Kospi hiked 0.47%.

Yesterday, SET Index closed at 1,576.79 points, increased 17.56 points or 1.13% with a trading value of 94.6 billion baht.

 

The U.S. Federal Reserve on Wednesday kept its benchmark interest rates unchanged at the record-low level of near zero, as economic recovery gathers momentum on Covid-19 vaccination progress and strong fiscal support.

“(The recovery is) uneven and far from complete,” said Fed’s Chairman Jerome Powell while adding that it was still not the time to discuss reducing policy accommodation, including asset purchases.

In the meantime, the Fed continued to buy at least $120 billion of bonds each month to support an economy that grew strongly to start 2021.

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