Asia shares hit 2008 highs, dollar in decline on Fed inflation view

Asian Market 1

Stocks, bonds and commodities were all on a roll in Asia on Thursday as bulls scented a softening in the Federal Reserve’s confidence on inflation that promised to keep US interest rates low for longer.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.5 percent to heights not seen since January 2008. It has gained nearly 5 percent so far this month.

South Korea added 0.6 percent and Australia 0.2 percent, while Japan’s Nikkei was kept flat by a firmer yen.

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