{"id":143671,"date":"2021-11-04T02:27:41","date_gmt":"2021-11-04T02:27:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143671"},"modified":"2021-11-04T02:27:41","modified_gmt":"2021-11-04T02:27:41","slug":"japan-and-south-korea-rise-1-after-fed-announces-plans-to-start-tapering-bond-purchases","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/japan-and-south-korea-rise-1-after-fed-announces-plans-to-start-tapering-bond-purchases\/","title":{"rendered":"Japan and South Korea rise 1% after Fed announces plans to start tapering bond purchases"},"content":{"rendered":"<ul>\n<li>Shares in Asia-Pacific were higher in Thursday morning trade.<\/li>\n<li>The U.S. Federal Reserve announced Wednesday it will begin tapering the pace of asset purchases later in November.<\/li>\n<li>Markets in Singapore, Malaysia and India are closed on Thursday for a holiday.<\/li>\n<\/ul>\n<p>SINGAPORE \u2014 Shares in Asia-Pacific rose in Thursday morning trade following the U.S. Federal Reserve&#x27;s announcement that it will start tapering the pace of its bond purchases later in November.<\/p>\n<p>The Nikkei 225 in Japan gained 1.06% in early trade as shares of Fast Retailing jumped more than 2%. The Topix index advanced 0.71%. South Korea&#x27;s Kospi also surged 1.09%.<\/p>\n<p>Australian stocks rose in morning trade as the S&amp;P\/ASX 200 gained 0.3%.<\/p>\n<p>MSCI&#x27;s broadest index of Asia-Pacific shares outside Japan traded 0.3% higher.<\/p>\n<p>Markets in Singapore, Malaysia and India are closed on Thursday for a holiday.<\/p>\n<h2>Fed announces tapering plans<\/h2>\n<p>The Fed announced Wednesday it will begin reducing the pace of monthly bond purchases later this month. The move was in line with market expectations following a series of earlier signals from the U.S. central bank that it would begin winding down a program that accelerated in March 2020 as a response to the\u00a0Covid pandemic.<\/p>\n<p>The major indexes on Wall Street climbed to new records on Wednesday following the Fed announcement, with the Dow Jones Industrial Average rising 104.95 points to 36,157.58 while the S&amp;P 500 advanced 0.65% to 4,660.57. The Nasdaq Composite jumped 1.04% to 15,811.58.<\/p>\n<table><\/table>\n<h2>Currencies and oil<\/h2>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.844 after recently falling from levels above 94.<\/p>\n<h2>Stock picks and investing trends from CNBC Pro:<\/h2>\n<p>JPMorgan picks 12 Asian stocks with \u2018superior\u2019 potential to beat the market<\/p>\n<p>Why the stock market doesn&#x27;t seem to mind that the Fed is scaling back stimulus<\/p>\n<p>CNBC PRO Talks: Dan Niles gives his favorite tech picks amid inflation and Fed tapering concerns<\/p>\n<p>The Japanese yen traded at 114.06 per dollar, weaker than levels below 113.6 seen against the greenback earlier this week. The Australian dollar changed hands at $0.746, following its plunge from above $0.752 earlier in the trading week.<\/p>\n<p>Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures lower by 0.71% at $81.42 per barrel. U.S. crude futures down 0.74% at $80.26 per barrel.<\/p>\n<p><em>\u2014 CNBC&#x27;s Jeff Cox contributed to this report.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/11\/04\/asia-markets-us-federal-reserve-currencies-oil.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares in Asia-Pacific were higher in Thursday<\/p>\n","protected":false},"author":3,"featured_media":143670,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan and South Korea rise 1% after Fed announces plans to start tapering bond purchases - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/japan-and-south-korea-rise-1-after-fed-announces-plans-to-start-tapering-bond-purchases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan and South Korea rise 1% after Fed announces plans to start tapering bond purchases - 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