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Fed helps lift optimism in Asia

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Fed helps lift optimism in Asia

Asian stocks followed Wall Street higher on Friday after the Federal Reserve signaled that it might end a two-year run of interest-rate increases.

The Nikkei 225 stock average climbed 384.03 points, or 2.5 percent, to 15,505.18, the Kospi posted its biggest weekly rise in Seoul for eight months and the Straits Times index in Singapore closed more than 2 percent higher. The benchmark Australian stock index surged 1.5 percent.

The MSCI benchmark index for shares of Asias biggest companies outside Japan jumped 3.1 percent to a three-week high.

The U.S. central bank said Thursday that economic growth was moderating, suggesting that further interest rate rises would be limited. The United States is the largest overseas market for Asian economies. The bank also raised rates for a 17th straight time.

More : iht.com

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