Stocks in Asia ended mostly higher today, as central bankers in Europe and the U.S. now appear open to further easing measures. European Central Bank (ECB) President Mario Draghi on Wednesday vowed to act "in a firm and timely manner" to ensure euro-zone stability, while the Federal Reserve's Janet Yellen said U.S. policymakers still have room to provide additional support. By the close, South Korea's Kospi surged 2.6%, Japan's Nikkei gained 1.2%, Hong Kong's Hang Seng ascended 0.9%, and China's Shanghai Composite diverged from the trend by dropping 0.7%.
European equities are pointed north at midday, propped up by a late-breaking interest-rate cut from the People's Bank of China (PBOC). This accommodative move for the major developing economy helped to offset a mixed bond auction for Spain, which garnered healthy demand for 10-year notes even as yields crept higher. At last look, London's FTSE 100 and the German DAX have advanced 1.6%, and the French CAC 40 has climbed 1.2%.
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