Asian stocks pause after rallying on FED
1/27/2012 11:40:08 AM
TOKYO: A broad asset rally inspired by the U.S. Federal Reserve's pledge to keep rates low paused on Friday, as investors sought to gauge how sustainable the burst of optimism will be while waiting for the outcome of crucial Greek debt talks.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 percent and hit its highest in nearly 3 months earlier, and was set for a weekly gain of around 2 percent. U.S. stocks fell Thursday as traders cashed in on recent gains and disappointing new home sales data weighed.
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