AUS
NZ
UK
CA
USA
IND
Summary
- US Federal Reserve’s dovish tone has triggered a rally in APAC markets.
- Indian and Thai stocks are best performers.
- BSE Sensex has reclaimed the historic 50,000-mark
The shares in India, Thailand and Hong Kong were the top performers on Thursday as the Asia Pacific (APAC) stocks witnessed a rally on the back of dovish commentary from the US Federal Reserve.
Leading the rally, the 30-share Indian benchmark BSE Sensex was up 110 basis points (bps), as it reclaimed the historic 50,000-mark despite the country being crippled by deadly second wave of the COVID-19 pandemic.
Thailand’s SET Index was up 88 basis points, while Hong Kong’s Hang Seng was up 83 bps.
The Australian ASX200 was also up 43 bps. On the other hand, Dow Jones New Zealand was up 57 bps.
Also Read: Markets next week: Key things to watch out for
Mainland Chinese Shanghai Composite was the laggard in the rally, up just 17 bps.
Meanwhile, Morgan Stanley Capital International’s (MSCI) APAC index was also up 8 bps.
The rally was spurred by the US Federal Reserve’s announcement to leave the short-term interest rates unchanged near zero, along with continuing to buy at least U$120 billion of bonds each month.
However, even as the Fed’s statement was dovish in nature, Wall Street closed the trade in red – the Dow 30 was down 48 basis points (bps), NASDAQ100 dropped 42 bps and S&P500 shed 9 bps.
