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Asian Markets Spiked Post Fed Decision But Settled

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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.

Global stocks edge up after U.S. tax plan, Powell nomination; sterling drops

World stock markets edged higher on Thursday, with Wall Street up slightly and the U.S. dollar modestly weaker after details of a Republican tax plan were released and the nomination of Jerome Powell as the new head of the Federal Reserve. “Everyone knows it is a long shot, there is not a bunch..

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