Who knows what the catalyst was, but stocks in Asia had a very good night:
WSJ: Japan’s Nikkei 225 closed up 2.2% at 9796.08, Australia’s S&P/ASX 200 was up 1.3%, and New Zealand’s NZX-50 finished higher 1.1%.
South Korea’s Kospi Composite and Hong Kong’s Hang Seng Index both advanced 2.1%. Taiwan shares rose 1.2%, adding to sharp gains made Wednesday on hopes for closer financial-sector cooperation with China.
The article goes onto cite the Fed minutes, and some analysts expressing relief that a tightening was not on the way. But really, who knows. The release had an imperceptible impact here, and we don’t see much reason it would’ve been a bigger deal overseas. In fact, the big gainers were tech, which don’t typically care much about Fed policy.