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Fed's reaffirmation of dovish stance welcomed

STI gains 10.03 points or 0.3 per cent to close at 3,350.45 as Australia, China, Japan, Hong Kong and South Korea close higher

THE local equities market, like most others, had been in a limbo since last Friday's US jobs data exceeded expectations and sent investors second-guessing the extent of rate cuts by the US Federal Reserve.

But on Thursday, market participants were reassured of the Fed's dovishness after...