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Asia stocks rise after US Fed stays the course

6:04 AM, Mar 21, 2013   |    comments
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BANGKOK (AP) - Asian stock markets were mostly higher today on an improvement in China's manufacturing and the U.S. central bank's message that it will keep interest rates at record lows despite signs of improvement in the world's biggest economy.

Federal Reserve Chairman Ben Bernanke said at the end of a two-day policy meeting that the Fed won't alter its aggressive monetary easing - $85 billion in monthly bond purchases to push down borrowing costs - until it is convinced the economy's gains can be sustained.

Another positive sign for markets came from a survey showing a better-than-expected manufacturing performance by China in March.

Benchmark crude oil fell but remained above $93 per barrel. The dollar fell against the euro and the yen.






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