This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Asia Stocks Gain, Unfazed By NKorea Rocket Launch


BANGKOK (AP) â¿¿ Asian stock markets rose Thursday with the help of Japan's Nikkei 225, which was propelled higher by a weakening yen. A new bond-buying program by the U.S. Federal Reserve and commitment to keep interest rates low also soothed investor nerves about the state of the world's biggest economy.

Following a two-day policy meeting, the Fed said Wednesday it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth. The Fed will spend $45 billion a month on long-term Treasury purchases to replace "Operation Twist," a previous bond-purchase program of an equal size. And it will keep buying $40 billion a month in mortgage bonds.

Those purchases, and the Fed's revamped commitment to keep interest rates low until unemployment falls to a more normal level, are intended to spur borrowing and spending in an economy still growing only modestly since the financial crisis of 2008.

Tokyo's Nikkei 225 index jumped 1.5 percent to 9,728.15 as the yen sank to an eight-month low against the dollar, a boost for Japan's export reliant economy.

Hong Kong's Hang Seng was 0.1 percent higher at 22,530.20. South Korea's Kospi added 0.4 percent to 1,983.77. Australia's S&P/ASX 200 gained less than 0.1 percent at 4,587.50.

Wall Street finished little changed despite the Fed's announcement as critical budget negotiations in Washington appear to have stalled.

Without a budget agreement between President Barack Obama and Republican lawmakers, a combination of steep automatic tax hikes and government spending cuts will go into effect in 2013, threatening to throw the U.S. economy into recession.

Even if an agreement can be reached, the halting pace of negotiations is jeopardizing chances that it could be written into proper legislative form and passed through both House and Senate before the new Congress convenes on Jan. 3.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs