Asian equity markets rose on Thursday after U.S. indices posted their biggest one-day gain of 2014. Wall Street indices closed up nearly 2 percent overnight as investors cheered the minutes from the Federal Reserve’s September 16-17 policy meeting.
The central bank stuck to its dovish tone, but the minutes showed a heated debate on forward guidance. Some members argued that current language painted the wrong picture on the timing of rate hikes and pushed for rate hikes to be more dependent on economic data. Analysts say the minutes gave the impression that no action will be taken at the Fed’s October meeting.
China’s benchmark Shanghai Composite index hit its highest levels since February 2013 for the seventh straight session. Real-estate developers extended gains with Vanke and China Merchants Property both over 1 percent higher following supportive measures from the central bank last month.