Asian shares jump after US Fed signals willingness to cut interest rates to support US economy against risks from escalating trade wars
A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a security firm in Tokyo.
"We are closely monitoring the implications of these developm ents for the US economic outlook and, as always, we will act as appropriate to sustain the expansion," Powell said. Japan's Nikkei 225 index jumped 1.8 percent to 20,776.10 while the Hang Seng in Hong Kong advanced 0.3 percent to 26,815.78. The Shanghai Composite index was almost flat at 2,863.04 and Australia's S&P ASX 200 climbed 0.4 percent to 6,358.50. South Korea's Kospi added 0.1 percent to 2,071.06. Shares also rose in Taiwan and Southeast Asia.
Automakers rallied. Many vehicle makers import vehicles from Mexico and would be hit particularly hard if the US imposes tariffs. Ford Motor climbed 3.2 percent, General Motors gained 6 percent and Fiat Chrysler added 4 percent.
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