The Federal Reserve's move to taper its massive stimulus programme gave most Asian markets a lift on Thursday, with investors taking it as a signal of rising confidence in the US economy.
The Fed said it would trim its bond-buying programme and expects to keep chipping away at stimulus as the US economy gathers momentum. Policymakers confirmed that monthly purchases of Treasury bonds and mortgage-backed securities would be reduced to $75bn from $85bn previously.
The benchmark Nikkei 225 advanced 1.74% as the Fed taper move sparked a sharp rise in the dollar against the yen.
Heavily weighted Fast Retailing bounced 4.5% in Tokyo while other risers included Mitsui Fudosan, up 4%. Canon firmed 0.3% while Kyocera rose 2.5%.
The broader Topix added 1.01% or 12 points to 1,263 while the Hang Seng bucked the mostly upbeat session, settling down 255 points or 1.10% at 22,888 as concern about tighter monetary conditions in China dried up investor appetite.
Hong Kong financials were sold off with China Construction Bank easing 1.7% while Agricultural Bank of China dropped 1.3%.
The Fed said it would trim its bond-buying programme and expects to keep chipping away at stimulus as the US economy gathers momentum. Policymakers confirmed that monthly purchases of Treasury bonds and mortgage-backed securities would be reduced to $75bn from $85bn previously.
The benchmark Nikkei 225 advanced 1.74% as the Fed taper move sparked a sharp rise in the dollar against the yen.
Heavily weighted Fast Retailing bounced 4.5% in Tokyo while other risers included Mitsui Fudosan, up 4%. Canon firmed 0.3% while Kyocera rose 2.5%.
The broader Topix added 1.01% or 12 points to 1,263 while the Hang Seng bucked the mostly upbeat session, settling down 255 points or 1.10% at 22,888 as concern about tighter monetary conditions in China dried up investor appetite.
Hong Kong financials were sold off with China Construction Bank easing 1.7% while Agricultural Bank of China dropped 1.3%.
