Markets surge as Fed retains stimulus plan
But analysts wary next hint of tapering may trigger another crash
Relieved investors sent shares soaring across the world yesterday after a surprise decision by the United States Federal Reserve to keep its money-printing programme intact.
Wall Street saw record highs on Wednesday, with more gains expected overnight, while other bourses also rallied.
Singapore shares jumped 1.8 per cent to their highest in more than a month, while Hong Kong gained 1.7 per cent and Tokyo rose 1.8 per cent. The surge was sharper in emerging markets, with Bangkok adding 3.5 per cent and Jakarta up 4.7 per cent.
European markets rose as well last night, while many currencies soared against the greenback.