Asian shares rise on Fed minutes, unfazed by China exports
Published on Apr 10, 2014 11:54 AM
TOKYO (Reuters) - Asian shares look to extend recent solid gains on Thursday after minutes of the Federal Reserve's latest policy meeting suggested the Fed may be more cautious towards raising interest rates than markets had thought.
Chinese exports and imports both undershot market expectations, but analysts said the data was likely to be distorted due to over-invoicing last year to skirt tight capital controls and markets showed muted reaction to the data.
MSCI's broadest index of Asia-Pacific shares outside Japan hit a five-month high and last stood 0.1 per cent higher, while Japan's Nikkei gained 0.7 per cent from a two-week low hit the previous day.
The minutes showed Federal Reserve officials fretted last month that investors would overreact to policymakers' latest views on interest rates that appeared to map out a more aggressive cycle of rate hikes than was actually anticipated.
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