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    Market Report - Asian Stocks Hit 27 Month High

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    NTDTelevision

    by NTDTelevision

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    In today's market report... Asian shares rallied to a 27-month high, amid hopes of policy easing by the Bank of Japan and the U.S. Federal Reserve.

    Tokyo stocks rose after the Bank of Japan's latest Tankan survey showed the outlook among Japanese companies has deteriorated, raising hopes Japan's central bank would pump more money into the economy when it meets next week.

    The Nikkei rose although gains were limited by the high value of the yen.

    There was also a boost with the expectation that the U.S. Federal Reserve will also take some stimulus action.

    Hong Kong stocks outperformed, led higher by banks and resource stocks. The Hang Seng is set to post its best monthly gain in over a year.

    But policy uncertainty weighed on Shanghai shares with the composite lower in afternoon trade.

    South Korea's technology shares led a rally in the KOSPI, but gains were limited after the index hit a fresh 28-month high.

    Sydney stocks reversed gains, led lower by banks, as latest data showed a 4th month of falls in new home sales.