Asian Indices Rise as Federal Reserve Holds Rates Steady

Asian Indices went up early on Thursday, boosted by gains seen on Wall Street following the decision of the Federal Reserve to leave rates unchanged. The Benchmark Nikkei 225 index went up 0.61 percent on Wednesday after closing slightly lower for six consecutive sessions. Stocks related to Energy increased with the recovery of oil prices overnight. Inpex went up 0.99 percent and JXTG stocks advanced 0.83 percent.

Shares from Nintendo increased 2 percent with the company announcing that the third-quarter profit went up 261 percent to $1.07 billion topping the forecasts. Other technological brands traded higher with Softbank going up to  0.4 percent.

The Korean Kospi went up by 0.26 percent. On the technology side, Samsung Electronics rose 0.2 percent and SK Hynix added 0.95 percent. Steelmaker Posco climbed higher by 4.86 percent. The S&P/ASX 200 went up 0.8 percent. The financial and materials sectors gained 0.98 percent and 0.96 percent. The Hang Seng Index went up 0.34 percent while Country Garden rose 0.48 percent and China Overseas Jumped 5.61 percent.

British Pound Rises against the Dollar

The Sterling advanced against the dollar on Wednesday putting the British Pound on the path for its best monthly performance since May of 2009. This is thanks to the dollar's weakness due to U.S. currency sell-offs and better prospects for a Brexit deal.

The pound went up by 0.4 percent to $1.4233 at 1600 GMT. Very close to the $1.4346 it reached last week after the Brexit vote. The Pound was flat on Wednesday against the Euro after it was reported that EU officials told British financiers they would cut a deal that would allow finance companies to operate in each others’ market without restrictions.

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