Dovish US Fed comments buoy markets across Asia
DOVISH comments from two top US Federal Reserve officials sent markets soaring on Friday, as investors hope for a rate cut as large as 50 basis points later this month.
The Straits Times Index (STI) finished on a high after making muted gains earlier in the week, gaining 0.5 per cent or 16.91 points to close at 3,377.96. It bettered last Friday's close of 3,357.34 by 0.6 per cent.
Other Asian markets that performed well included Japan, where the Nikkei index added 2 per cent, and South Korea, where the KOSPI index gained 1.35 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly