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Asia shares higher on dovish US Fed minutes Asia shares rise on US Fed minutes
(about 9 hours later)
Asian shares are trading higher after minutes from the US Federal Reserve's policy meeting reduced fears of the central bank increasing interest rates. Asian shares rose after minutes from the US Federal Reserve's policy meeting reduced fears of the central bank increasing interest rates.
US policymakers showed concerns about the risks to the global economy and the US dollar's strength.US policymakers showed concerns about the risks to the global economy and the US dollar's strength.
"There's absolutely no indication of an early rate hike," said Tohru Yamamoto, strategist at Daiwa Securities."There's absolutely no indication of an early rate hike," said Tohru Yamamoto, strategist at Daiwa Securities.
Japan's Nikkei 225 rose 0.3%, while the yen climbed against the dollar to hit 108.16.
Shares were also lifted by stronger-than-expected economic data, which showed Japan machinery orders rose 4.7% in August from a month earlier.
In greater China, Hong Kong shares rose following a rally on Wall Street from the Fed minutes.In greater China, Hong Kong shares rose following a rally on Wall Street from the Fed minutes.
The benchmark Hang Seng Index added 0.9% to 23,461.35 points. The benchmark Hang Seng Index closed up 1.2% at 23,534.53.
On the mainland, the Shanghai Composite opened flat after hitting a 19-month closing high on Wednesday. On the mainland, the Shanghai Composite index ended up 0.3% at 2,389.37 after hitting a 19-month closing high on Wednesday.
In Australia, shares rebounded from February lows during mid-morning trade, with the S&P/ASX200 index gaining more than 1%. However, in Japan, the Nikkei 225 reversed early gains to close down 0.75% at 15,478.93.
Shares of National Australia Bank (NAB) were up 0.6% despite it warning that its full year earnings will fall up to 14% due to higher charges at its UK business. Shares had risen in morning trade following stronger-than-expected economic data, which showed Japan machinery orders rose 4.7% in August from a month earlier.
However, the Australian dollar fell after surprisingly weak jobs data showed 29,700 positions were shed in September. But a rally in the yen against the dollar hit shares in exporting companies, pushing the index lower. The dollar weakened as the prospects of early US rate rises faded, and against the yen it dropped to 107.92 yen from 108.11 yen on Wednesday.
In Australia, the S&P/ASX200 index closed up more than 1% at 5,296.68.
Shares of National Australia Bank (NAB) rose 1% despite its warning that its full-year earnings would fall by up to 14% because of higher charges at its UK business.
South Korea's stock market is closed for a public holiday.South Korea's stock market is closed for a public holiday.