Asian shares catch Wall Street's Fed cheer; dollar remains weak
Updated : June 05, 2019 07:01 AM IST
The rebound in stock prices also prompted US bond yields to step up from their recent lows, with the 10-year yield off its 21-month low hit earlier in the week.
Supporting the market cheer, Federal Reserve Chairman Powell on Tuesday dropped his standard reference to the central bank being "patient" in its approach to any rate decision, instead of saying the Fed would respond "as appropriate" to the risks posed by a global trade war.
Chinese President Xi Jinping said the country's economy is stable, healthy and well placed to meet all risks and challenges, according to a transcript published by the Xinhua news agency.