Asian markets rally over low interest rates

Asian markets rally over low interest rates
Wednesday, August 10, 2011 - 7:30am

Asian markets rallied overnight on the Fed's announcement that they will keep interest rates near zero in the U.S. for at least the next two years. Japan's Nikkei average rose, rebounding from a three day losing streak gaining a little more than one percent. Japan's broader Topix gained eight tenths of a percent.

In Hong Kong, the Hang-Seng rose two and three quarters of a percent. South Korean shares were mostly flat, closing up a little more than a quarter of a percent. Sydney's S&P and PASX Index rallied, closing up two point six percent. Despite the rises in Asia, top economists are warning that the global economy isn't out of the woods yet.

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