The dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak U.S. services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.4 percent, extending its chunky gains of 2.7 percent over the last two days.
U.S. stocks rose slightly on Tuesday, nudging the Nasdaq to a record high close, as economic data bolstered views the Federal Reserve may decide against raising interest rates in the near term.
The Dow Jones industrial average .DJI closed up 46.16 points, or 0.25 percent
Reference: Reuters
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