Asian Stocks Rebounds, Dollar Falls after Fed Official’s Dovish Comments

Asian stocks have risen early on Tuesday, advanced as the U.S. financial sector rallied overnight after Lael Brainard, Federal Reserve Governor said that there is no rush to raise interest rates.

The dollar, on the other hand, fostered losses against its rivals after Brainard restated her dovish views.

The Japan Nikkei .N225 increased 0.3 percent, South Korea’s Kospi .KS11 rose 0.5 percent and Australian stocks advanced 0.1 percent. Hong Kong’s Hang Seng .HSI added 0.8 percent and Shanghai .SSEC opposed the trend which lose 0.2 percent.

Malaysia’s ringgit sank as much as 0.8 percent from Friday, after a decline in oil prices faded prospects for Asia’s only major net exporter of crude. It’s close to its weakest level since June.

The dollar dropped 0.8 percent overnight and plunged 0.1 percent to 101.940 yen JPY=. Euro was flat at $1.1234 EUR= while the dollar index .DXY stood little change at 95.155 after losing about 0.2 percent the previous day.

Crude oil prices dropped over the concerns on the increased drilling in the United States and as investors sold into the past day’s gains.

Brent crude LCOc1 went down 0.7 percent at $47.98 a barrel after rising 0.65 percent overnight.