Financial Times FT.com

Asian stocks rebound after Fed rate cut

By Krishna Guha in Washington and Michael Mackenzie in New York

Published: January 22 2008 07:33 | Last updated: January 23 2008 03:16

Asian stocks rebounded on Wednesday after the US Federal Reserve slashed interest rates by 75 basis points – and hinted clearly at more cuts to come – in a bid to arrest the deterioration in the US economy and stem a wave of selling in world stock markets.

In Asia on Wednesday, the MSCI Asia Pacific Index added 2.7 per cent to 135.64 in morning trading in Tokyo, headed for its biggest gain since September 19.

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