Dovish US Fed comments buoy markets across Asia

DOVISH comments from two top US Federal Reserve officials sent markets soaring on Friday, as investors hope for a rate cut as large as 50 basis points later this month.

The Straits Times Index (STI) finished on a high after making muted gains earlier in the week, gaining 0.5 per cent or 16.91 points to close at 3,377.96. It bettered last Friday's close of 3,357.34 by 0.6 per cent.

Other Asian markets that performed well included Japan, where the Nikkei index added 2 per cent, and South Korea, where the KOSPI index gained 1.35 per cent.