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US growth upgrade gives stocks another lift

That weighed on the performance of a number of markets in Asia. China's Shanghai composite dropped 2.0 percent to 2,181.94 on fresh concerns of a shortage of credit. Hong Kong's Hang Seng index also fell 0.3 percent to 22,812.18.

Elsewhere in Asia, Japan's Nikkei index recovered some early losses near a six-year peak at 15,837.31 as investors welcomed the continued weak yen, which is expected to boost exports.

The dollar has largely been ascendant since the Fed's decision as traders price in the prospect of less new money being created. The dollar is trading 0.3 percent lower at 104.01 yen, having earlier risen to a five-year high of 104.64 yen.

The euro recouped some ground, trading 0.3 percent higher at $1.3677 even though Standard & Poor's downgraded the European Union's credit rating.

____

Kay Johnson in Mumbai, India, contributed to this story.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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