If you enjoy the content at iBankCoin, please follow us on TwitterSYDNEY (MarketWatch) — Asian shares rallied Tuesday, with investors welcoming comments from Federal Reserve Chairman Ben Bernanke that signaled U.S. monetary policy will remain accommodative.
Hong Kong’s Hang Seng Index HK:HSI +1.33% rose 1.3%, Shanghai Composite CN:000001 +0.32% advanced 0.3%, and Japan’s Nikkei Stock Average JP:100000018 +1.75% jumped 1.7%, hitting a fresh 2012 high in the session.
South Korea’s Kospi KR:0100 +0.56% and Australia’s S&P/ASX 200 index AU:XJO +0.66% each rose 0.8%.
Bernanke remarks, German data boost U.S. stocks
Stocks rise after Federal Reserve Chairman Ben Bernanke signals more easy monetary policy and positive German business confidence data cheers Europe. (Photo: AP/Seth Wenig)
The gains in Asia followed a strong performance for U.S. stocks Monday, after Bernanke said that it’s not yet certain the recent pace of improvement in the nation’s labor market will be sustained but improvements may be supported by “continued accommodative policies.” Read more on U.S. stockmarket action.
“Chairman Bernanke’s palpable disappointment in terms of jobs growth played out like music to the ears of market sentiment,” said Stewart Hall at RBC Capital Markets.
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