• Asian stocks broadly rallied on Thursday, after the U.S. Federal Reserve flagged the end of its tightening cycle and struck a dovish tone for the year ahead.
  • U.S. Treasury yields slid to a fresh four-month trough, while the dollar continued to slide.
  • MSCI’s broadest index of Asia-Pacific shares outside Japan shot up 1.8%, its biggest one-day percentage jump in a month.
  • Mainland Chinese blue chips edged up by 0.2%, while Hong Kong’s benchmark advanced 1.2%. Australian shares were up 1.6%.
  • However, Japan’s Nikkei slid 0.7%, weighed down by the yen’s sharp rally.