Market Report – Asia up on U.S. Fed Announcement
Asian investors got a boost in confidence from the U.S. Federal Reserve, which said the worst of the recession is over.
Commodity prices gained with oil rising to near $71 a barrel, boosting most-resource linked companies.
Japan’s Nikkei touched a near 10-month high, as high-tech exporters in the chip sector and No.2 automaker Honda gained.
Mazda rose on a report it could raise its domestic production 10 percent as government stimulus plans prompt car buying.
And In Australia, banks like Commonwealth and Westpac continued to climb lifting the index to a fresh 10-month high.