Asian markets end higher after Fed flag off monetary stimulus

Asian markets end higher after Fed flag off monetary stimulus

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Asian markets ended higher today after the Federal Reserve flagged a long-awaited end to its monetary stimulus next year but delivered an otherwise upbeat economic outlook, which lifted investor spirits. So Japan’s Nikkei-225 index jumped 2.1 percent; China’s Shanghai Composite index rose 0.8 percent and South Korea’s Kospi index gained 0.6 percent; Hong Kong’s Hang Seng index moved up 0.2 percent and Singapore’s Straits Times index added 0.7 percent.

In Europe, London’s FTSE-100 had climbed 1 percent and France’s CAC-40 had advanced 1.2 percent and Germany’s DAX had added 1.6 percent, in intra-day trade.

Investors await policy announcements later today, from the European Central Bank and the Bank of England, which are also facing heated inflation.

Meanwhile, investors sharply increased their bets that the Bank of England is about to raise rates after a report yesterday showed British consumer price inflation surging in November to its highest in more than 10 years, exceeding all forecasts from economists.

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