Asian Market continues to rise after Monday’s fiasco

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Asian market on Thursday soared once more after a momentous Singapore Convention on Wednesday to significantly clear the stage of international trade.

South Korea’s Kospi notched a step higher with a 1% climb. The Hang Seng Index of Hong Kong posted a 0.3% increase. Japan’s Nikkei was also up by 0.6% and the Composite of Index of China added 0.6%. Taiex of Taiwan also gained, posting a 0.8% rise.

Chinese Yuan also became steadier as the People’s Bank of China regulated its currency rate to reach its normal rate of 7.  

The surge of Asian currencies was brought by the interest rate cuts of several Asian banks like Thailand, New Zealand, and India. The Philippines is also expected to do the same move to join the rate increase.

 

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