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Asian Shares Rally after Wall Street Notches Record Close

Asian Shares Rally after Wall Street Notches Record Close

A majority of Asian shares advanced on Thursday after Wall Street ended at record levels after the release of the minutes of the September meeting of the Federal Reserve. Meanwhile, the dollar continued to be on the defensive.

Japan's Nikkei 225 advanced 0.45 percent, continuing its gain streak after ending the Wednesday session at its highest level since 1996. Softbank Group led the gains on the index, rising 3.96 percent.

In Australia, the S&P/ASX 200 rose even as a decline in major mining stocks counter gains observed in other sectors. Miners declined after iron ore prices declined overnight. Fortescue Metals posted a decline of 1.41 percent, while Rio Tinto fell 1.51 percent.

However, Chinese markets did not follow the suit of its global peers. Hong Kong's Hang Seng Index declined by 0.02 percent. In mainland China, the Shanghai Composite index decline 0.22 percent, while the Shenzhen Composite fell 0.114 percent.

Recordings of the Fed's September 19-20 meeting showed that policymakers perceive another rate hike by the end of the year was most likely “warranted”, as the economic outlook continued to be unchanged in the medium-term.

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