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Title : Asian stocks mixed after U.S. federal reserve boosts Wall Street
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Asian stocks mixed after U.S. federal reserve boosts Wall Street

BANGKOK - Shares were mixed in Asia on Thursday after U.S. stocks reversed early losses and finished higher as investors appraised the Federal Reserve's signal that it is not in a hurry to raise interest rates.

KEEPING SCORE: Japan's Nikkei 225 index fell 1.2 per cent to 22,418.18 and the Kospi in South Korea slipped 0.3 per cent to 2,464.74. Australia's S&P ASX 200 gave up 0.2 per cent to 6,021.60 and the Shanghai Composite index was down less than 0.1 per cent at 3,167.83. Shares rose in Indonesia, Taiwan and Singapore but fell in Thailand.

WALL STREET: Shares recovered from early losses after the Fed released minutes from its meeting in early May, where officials concluded that the U.S. central bank should be on track to keep raising interest rates gradually. Some said it wouldn't be a problem if inflation briefly went past the Fed's target rate of 2 per cent. The S&P 500 index rose 0.3 per cent to 2,733.29 and the Dow Jones industrial average gained 0.2 per cent to 24,886.81. The Nasdaq composite climbed 0.6 per cent to 7,425.96. The Russell 2000 index of smaller-company stocks edged 0.1 per cent higher, to 1,627.61.

ANALYST'S PERSPECTIVE: "Fasten up as this will surely get bumpier with Tariff's, NAFTA and North Korea dominating headlines still," Stephen Innes of OANDA said in a commentary. "The underperformance of emerging market currencies and heightened global geopolitical risks should continue to wear on investors risk appetite."

ENERGY: Benchmark U.S. crude lost 19 cents to $71.65 per barrel in electronic trading on the New York Mercantile Exchange. It lost 36 cents to $71.84 per barrel on Wednesday. Brent crude, used to price international oils, fell 25 cents to $79.55.

CURRENCIES: The dollar dropped to 109.45 yen from 110.09 yen. The euro rose to $1.1704 from $1.1697.

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