Asian Stock Market: Indices soar as Fed sets to test policy moderation, oil firms above $80.00

Chinese indices have hogged the limelight on upbeat Caixin Manufacturing PMI data.Markets in the Asian domain are gaining like there is no tomorrow as the Federal Reserve chairhas confirmed moderation of extreme-tight monetary policy in a December meeting. A slowdown in labor demand and economic activities, and a surprise drop in October’s inflation report have set the stage for a decline in the interest rate hike pace to 50 basis points .

At the press time, Nikkei225 jumped 1.06%, ChinaA50 soared 2.20%, Hang Seng ramped up 1.74% and Nifty50 added 0.48%.

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