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Asian stock traded mixed after the Fed’s interest decision. The Fed cut its monthly asset purchases by another $10 billion to $35 billion and kept the Federal Funds Target Rate between zero and 0.25 percent. Market participants had expected this decision. The Fed pointed out that interest rates will remain unchanged for a considerable time after the Fed’s asset purchase program ends.
Shares in China and Hong Kong traded lower due to concerns over the health of China’s economy. Chinese Premier Li Keqiang promised during a speech in London yesterday that the Chinese economy would continue to expand moderately and avoid a hard landing.
Indexes on the close:
Nikkei 225 15,361.16 +245.36 +1.62%
Hang Seng 23,167.73 -13.99 -0.06%
Shanghai Composite 2,023.73 -31.78 -1.55%
Nippon Sheet Glass Co. shares rose 17.0% after Nomura Holdings Inc. raised its rating on the company.
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