Asian stocks open higher as Fed's Powell nixes inflation fears | Malay Mail

Australia's S&P/ASX 200 rose 0.90 per cent in early trade while Japan's Nikkei 225 added 1.37 per cent. — Reuters picMIAMI, Feb 25 ― Asian stocks perked up today after US Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low, calming market fears that higher inflation might prompt the central bank to tighten the monetary spigot.

In a second day of testimony in Washington, Powell reiterated the Fed's promise to get the US economy back to full employment and to not worry about inflation unless prices rose in a persistent and troubling way. The dollar hit fresh three-year lows against the pound and commodity-linked currencies including the Canadian, Australian and New Zealand dollars, which are expected to benefit from a pick-up in global trade as growth rebounds.

Shares of GameStop Corp, at the centre of a volatile retail trading frenzy moves in late January, more than doubled in price in late trading and continued to soar in heavy, post-market trade.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian American business leaders launch US$250m effort to combat anti-Asian hate | Malay MailNEW YORK, May 3 — Business leaders launched a five-year, US$250 million drive today to support the causes of Asian-Americans and Pacific Islanders, vowing to set up a national infrastructure for a community targeted by a rising number of racial attacks. The Asian American Foundation will invest...
Source: malaymail - 🏆 1. / 86 Read more »

Asian shares wobble ahead of Fed outcome and earnings | Malay MailTOKYO, April 27 ― Asian shares fell and US stock futures were steady today as caution ahead of a US Federal Reserve meeting and a slew of corporate earnings offset growing optimism about the global economic recovery from the Covid-19 blow. MSCI's broadest index of Asia-Pacific shares outside...
Source: malaymail - 🏆 1. / 86 Read more »

Asian shares mixed as earnings fail to inspire before Fed | Malay MailTOKYO, April 28 ― Asian shares were mixed today as already high valuations discouraged investors from buying equities ahead of a closely-watched US Federal Reserve meeting. MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.23 per cent. Australian stocks rose 0.55 per cent, but...
Source: malaymail - 🏆 1. / 86 Read more »