Asian markets were mixed today (July 10th) after the US Federal Reserve confirmed that interest rates would not be raised anytime soon, although it said it is starting to plan an exit strategy from an era of cheap money and quantitative easing.
The Fed indicated that it will keep interest rates at record lows well into 2015 and unveiled an upbeat assessment of the US economy in the minutes of their June board meeting. It said the bank plans to end its five-year-long bond-buying scheme in October.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent. Sydney added 0.22 per cent to close at 5464.4, while Seoul added 0.12 per cent to 2,002.84.
Hong Kong put on 0.27 per cent to 23,238.99, while Shanghai ended 0.27 per cent down to 2,038.34.
Tokyo shed 0.56 per cent to 15,265.76, as the strong yen hit exporters.
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