Thursday, 25 May 2017

Asian shares firm, dollar and US bond yields slip after Fed

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Asian shares eked out modest gains on Thursday while the dollar and US bond yields slipped after the US Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its USD 4.5 trillion of bond holdings.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent, with South Korea leading with a 0.4 percent rise. .

Japan's Nikkei dipped 0.1 percent though MSCI Japan rose 0.4 percent in dollar terms .

Minutes from the Fed's last policy meeting showed policymakers agreed they should hold off on raising interest rates until it was clear a recent US economic slowdown was temporary, though most said a hike was coming soon.

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