Asia Markets: Asian markets rise on brighter economic data

Stocks in Asia rebounded Wednesday as economic data from around the region improved.

The U.S. Federal Reserve kept interest rates on hold as expected, but language in its policy statement was changed to reflect confidence that inflation will stabilize around the central bank’s 2% target, said Marvin Loh, a senior global market strategist at BNY Mellon.

“We view this change as an indication that the FOMC feels better about the current inflation outlook despite data that has not yet reflected much price or wage growth,” he added. Many market participants expect the next Fed rate rise will come in March.

Meanwhile, corporate news and improved manufacturing readings across Asia helped give equities an early lift.

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