HONG KONG: Asian markets and crude prices surged while the dollar sank Tuesday after the Federal Reserve unveiled an unprecedented bond-buying programme to support the US economy.
The plan failed to inspire US traders, with all three main indexes on Wall Street sliding, but equities in Asia rallied with Tokyo ending more than 7% higher. “Asian investors like what they see from an all-in Fed, which is being viewed in a very impressive light for both Main and Wall Street, even as the US congress dithers,” he added.But Innes pointed out that US senators remain gridlocked, with Democrats on Monday again blocking a nearly US$2 trillion rescue package for the economy.
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