· Asian shares and U.S. stock futures rose on Thursday after the Federal Reserve committed to maintaining accommodative monetary policy and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.87%, while stocks in China rose 0.74%. Australia’s market bucked the trend and fell 0.73%.
E-mini futures for the S&P 500 edged up by 0.7%.
MSCI’s gauge of stocks across the globe gained 0.35% to approach an all-time high.
· Japanese shares jump on Fed's growth projection, Topix at 30-year high
Japanese shares jumped on Thursday, with the Topix index hitting a 30-year high, propelled by the U.S. Federal Reserve’s projection for a rapid economic growth and pledge for low rates.
The broader Topix advanced 1.23% to close at 2,008.51, crossing the 2,000 mark for the first time since May 1991. The Nikkei index jumped 1.01% to 30,216.75, its highest close in three weeks.
· China stocks end higher after Fed signals dovish view
China stocks rose on Thursday, driven by gains in consumer and healthcare firms, after the U.S. Federal Reserve pledged to maintain an accommodative monetary policy and projected a rapid jump in U.S. economic growth this year.
The blue-chip CSI300 index rose 0.8%, to 5,141.77, while the Shanghai Composite Index gained 0.5% to 3,463.07.
· South Korea IPO boom continues as shares in vaccine firm SK Bioscience surge 30% on debut
South Korean firm SK Bioscience Co Ltd shares rocketed 30% on their first day of trading on Thursday, as investor bets on the COVID-19 vaccine developer and maker’s prospects turned it into a nearly $12 billion business.
The stock opened on Seoul’s KOSPI market at 130,000 won per share, double the initial public offering (IPO) price of 65,000 won, then quickly jumped to 169,000 won in early trade, valuing the company at 12.9 trillion won ($11.5 billion).
· European markets slightly higher after Fed rates reassurance
European stocks moved slightly higher on Thursday as markets around the world react to the Federal Reserve’s latest outlook on the U.S. economy.
The pan-European Stoxx 600 gained 0.3% in early trade, with autos jumping 2.3% to lead gains while utilities bucked the upward trend to shed 0.5%.
European markets are following positive global sentiment after comments from the Fed, which concluded a two-day meeting Wednesday. U.S. stock futures rose in the overnight session Wednesday evening, after the Fed said that it does not currently expect to hike interest rates through 2023.
Reference: CNBC, Reuters
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