HONG KONG: Asian stocks rose on Monday morning, after the recent sell-off, while the dollar struggled after U.S. Federal Reserve Chairman Ben Bernanke left the door open for further action to stimulate the economy and fight high unemployment.
Gains in equities were also supported by firmer U.S. stock futures after Hurricane Irene, downgraded to tropical storm status, caused less damage than feared in New York city.
Bernanke, speaking at an annual Fed conference at Jackson Hole, Wyoming on Friday, gave no details of further action to boost the U.S. recovery but said the central bank's policy panel would meet for two days next month instead of one to discuss additional monetary stimulus, offering some hope to investors.
No comments:
Post a Comment