Asian shares boosted by Fed move, US bank test

HONG KONG: Asian markets rallied Wednesday after the Dow on Wall Street hit a more than four-year high, while the US Fed gave an upbeat assessment of the economy and top US banks passed crucial stress tests.

The dollar also pushed towards 83 yen, lifting Tokyo shares, while the sense of optimism was boosted by a surprise move by Fitch to raise Greece's credit rating out of default.

Tokyo jumped 2.03 percent by the break, Hong Kong rose 1.21 percent, Sydney gained 0.97 percent, Seoul added 1.47 percent and Shanghai was 0.48 percent higher.

Traders were following the lead of the Dow Jones Industrial Average, which jumped 1.68 percent to 13,177.68 - its best finish since December 31, 2007 - thanks to a string of good news.

The US central bank, following its monthly policy meeting Tuesday, upgraded its view of the world's number one economy, saying the jobs market and consumer and business spending had improved since January. (AFP)