Friday 26 August 2011

Asian shares edge up, dollar firm

SINGAPORE: Asian shares edged up marginally on Friday as investors waited for a speech by Federal Reserve Chairman Ben Bernanke later in the day, while nervousness about the U.S. economic outlook sent the dollar higher.


Stocks on Wall Street fell on Thursday as investors lowered their expectations that Bernanke, who is due to address central bankers at an annual symposium in Jackson Hole, Wyoming, will announce drastic measures to kick start growth in the world's top economy.


His speech last year laid the groundwork for the Fed's $600 billion bond-buying program to revive the economy under the rubric "QE2" for the Fed's second round of stimulus, or quantitative easing.


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