Asian Markets Higher On Fed Rate Delay

October 16, 2015 Share Print 0

Asian stock markets were largely higher on Friday as investors continued to hope the US Federal Reserve would delay its decision to raise its rates.Japan’s benchmark Nikkei index closed up 1.08% at 18,291.80 points.

A weaker yen against the dollar also helped to lift Japan’s market.

The dollar was buying 119.12 yen in Tokyo trade, up from 118.88 in New York. A weaker yen gives a boost to Japan’s big manufacturers as it makes their products cheaper to buy overseas.

Elsewhere in Asia, Hong Kong’s Hang Seng index closed 0.8% higher at 23,067.37, while on the Chinese mainland the Shanghai Composite rose 1.6% to 3,391.35.

Vía BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.