Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues overnight from Wall Street, as traders reacted positively to the Federal Reserve's monetary policy announcement. Along with the plan to begin reducing its asset purchases, the Fed also announced its widely expected decision to keep the target range for the federal funds rate at 0 to 0.25 percent. Asian markets closed mostly lower on Wednesday.
In the statement announcing the decision, the Fed said indicators of economic activity and employment have continued to strengthen amid progress on Covid-19 vaccinations and strong policy support.
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