Asia Markets: Asian shares rise as market waits for Fed, Bank of Japan

Asian shares traded mostly higher on Monday, as fears receded that the U.S. Federal Reserve would raise interest rates this week.

“Definitely they [the Fed] are not going to move in September,” said Kay Van-Petersen, global macro strategist at Saxo Bank in Singapore. He added that this view helped Asian markets pull back from a series of selloffs seen recently, when traders were worried the U.S. and Japan were on the brink of tightening monetary policies.

Korea’s Kospi index SEU, +0.82% gained 0.8%, with Australia’s S&P/ASX XJO, -0.04% closing about unchanged after a technical problem delayed the opening of financial markets there.

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