Asian markets rise as probe into Fed revives ‘Sell America’ trade

Singapore shares climbed on Jan 12, as Asian markets gained on a rise in “Sell America” sentiment after the Trump administration escalated its attacks on the US Federal Reserve.

- Jude Chan

Fed chair Jerome Powell confirmed the “unprecedented” probe into the central bank by the US Justice Department, which he blasted as part of US President Donald Trump’s pressure campaign for another rate cut.

In Asia, Hong Kong’s Hang Seng Index rose 1.4 per cent, South Korea’s Kospi index climbed 0.8 per cent, and the FTSE Bursa Malaysia KLCI Index gained 0.5 per cent.