Asian Markets Spiked Post Fed Decision But Settled
Asian market shares moved up post the Fed’s decision to not raise rates Wednesday, confirm economic growth and virtually assure a December raise hike that is widely suggested and expected.
- MSCI hit its highest levels since November 2007 but closed just above.
- Australian shares reached a 2.5 year high but reversed gains to close down 0.1%.
- China’s CSI300 index was down 0.2%.
- Shanghai Composite Index decline 0.4%.
- Japan’s Nikkei stock index (.N225) finished up 0.5% at its highest close since June 1996.