Asian shares Rally, Dollar sags on slow-Motion Fed

Asian shares look set to rise for a sixth straight session on Thursday after the Federal Reserve left US rates unchanged and plotted a lower trajectory for future hikes, slugging the dollar and boosting commodity prices. Traders expected stocks to at least match the 1.1 percent gain enjoyed by the S&P 500.Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90

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MSCI's broadest index of Asia-Pacific shares outside Japan was seen testing its recent one-year peak. While Tokyo was on holiday on Thursday, stocks were boosted on Wednesday by the Bank of Japan's shift to targeting a positive yield curve, a move that was considered bullish for banks, insurers and pension funds. 

 

The US Fed did highlight the risk of a hike in December, but the forward guidance on rates - known as the dot points - left investors feeling any tightening would be glacial at best. Market pricing for a December move rose only a fraction to 59.3 percent <0#FF:>, from 59.2 percent, according to CME Group's FedWatch program.