Le Bags have gone up and the risk on the bonds decreased before the conclusion of the two-day meeting of the Federal Reserve. Emerging market currencies fell, and on the commodity side, gold and oil fell in price. The MSCI Asia Pacific index gained 0,5% as of 11:49 am in Tokyo. Japan's Topix rallied 1,1% as the yen plunged to a weekly low. The Malaysian ringgit also fell, weakening by 0,3% against the dollar and the Philippine peso depreciated by 0,1%. Pterolium fell 0,6% in New York, while gold contracted 0,2% for the second consecutive day of losses.
Economists expect Fed to maintain its monthly bond-buying program worth $85 billion. The Japanese central bank is due to meet tomorrow after data point to a return to growth for industrial production in September. Toshiba, Agricultural Bank of China, Aluminum Corp. of China and Honda Motor are among the companies to report earnings in the coming hours.
"The Fed will probably wait until March to change policy and that gives global markets a living space," said Wellian Wiranto, investment strategist at Barclays' wealth-management unit in Singapore.
Communications and consumer companies have driven the growth of the markets. Australia's S&P/ASX 200 index gained 0,5 percent. The Hang Seng Index (+0,8%) and the Kospi (+0,1%) also performed well.
http://www.bloomberg.com/news/2013-10-29/asian-index-futures-rise-before-fed-as-oil-extends-drop.html
