Asian markets rally on Fed’s cautious talk

HONG KONG: Most Asian equity markets outside Japan rallied on Thursday after comments by the US Federal Reserve cooled expectations of an early rate hike, while the euro and yen retreated against the dollar after racking up big gains in New York.

While the US central bank opened the door for a rise after six years of zero percent rates, it lowered its forecasts for economic growth and inflation and stressed it would remain cautious before making any move.