Asian shares soar as Yellen's dovish remarks boost risk appetite
Asian stocks escalated following Federal Reserve Chair Janet Yellen implied the central bank may raise interest rates with caution, citing threats to economic growth from a sluggish global economy. Addressing the Economic Club of New York, the Fed head said it is appropriate for policymakers to become careful in increasing rates given heightened perils around the globe. The MSCI Asia Pacific Index closed at 128.34, up 0.5%, on track for its biggest monthly surge since October. South Korea's Kospi added 0.5%, but Japan's Topix slipped 0.5%. Markets in China and Hong Kong are yet to resume trading.
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