Most Asian stocks opened higher following the Fed’s decision

The majority of the stocks in Asia started Thursday’s session higher after the Federal Reserve’s statement that suggested rates would be kept stable. The market is currently focusing on the earnings season.

The South Korean benchmark, the Kospi index, rose more than 0.52 percent and the ASX 200 index in Australia advanced by 0.28 percent throughout the day. In contrast, the Japanese benchmark, the Nikkei 225 index, was marginally down by 0.07 percent. The video game company, Nintendo, released unexpectedly higher earnings with an operating profit of 16.21 billion yen ($0.144 billion). It added more than 4.25 percent in shares.

The U.S. dollar weakens on account of the Fed’s dovish stance

The index which tracks the value of the greenback relative to its major peers, the U.S. dollar index, fell to 93.44. The index dropped as much as 10 percent from its 14-year high of 103.82 on Jan 3.

The Federal Reserve said that it was expecting its huge bond portfolio to begin shrinking anytime, and although the greenback had been reinforced by the gradual policy tightening, it seemed like the advantage of raising interest rates had been eroding.

Surprise in the forex market as the Russian national, Alexander Vinnik, was arrested for bitcoin laundering worth as much as $4 billion in Greece on the previous day.

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