Asian markets buoyed by Fed reassurance

BY all accounts, it was a field of green at the closing bell on Monday, as a combination of Fed reassurance, easing trade war fears and yuan stabilisation guided global equity markets higher.

Asian markets were in high spirits on Monday on the back of a record lead from Wall Street, as Federal Reserve chairman Jerome Powell made his Jackson Hole debut last Friday.

Gradual rate hikes are the best way to protect the US economy and keep inflation in check, Mr Powell said at the symposium, adding that the US economy is strong with no risk of overheating.