The Straits Times
Published on Sep 12, 2012

Asian markets up, dollar down ahead of Fed meeting


HONG KONG (AFP) - Asian markets rose and the dollar sank against the euro on Wednesday ahead of a US Federal Reserve meeting most economists expect will deliver fresh stimulus to kickstart the economy.

Comments from China's prime minister hinting at monetary easing also gave a fillip, while traders are confident of a positive verdict in Germany as judges rule on whether Berlin can legally take part in the eurozone's bailout fund.

Tokyo surged 1.73 per cent, or 152.58 points, to 8,959.96 with better-than-expected July economic data helping to lift sentiment, while Seoul jumped 1.56 per cent, or 30.03 points, to 1,950.03.

Sydney was 0.82 per cent higher, adding 35.5 points to 4,361.3, and in the afternoon Hong Kong jumped 0.98 per cent.