Asian, European stocks rise after Fed announces tapering of its stimulus program

By William Wan, Michael Birnbaum, December 19, 2013

BEIJING — European and Asian stock markets rose Thursday on news that the Federal Reserve will taper its stimulus program, seeing the Fed’s actions as a sign of confidence in the U.S. economy.

The upward surge across Asia was led by the Nikkei in Japan, which increased by 1.7 percent to its highest closing level in six years off the news as well as a subsequent slide in the yen. Major European markets were also up about 1 percent or more.

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