Asian Stock Rallied On Stronger Dollar, Stable Interest Rates

Asian shares rallied on Wednesday on unchanged US Federal Reserve interest rates. Exporters also benefited from gains in the dollar.

The US currency touched a 7-week high against the yen as sliding oil prices eased concerns that higher energy costs will adversely impact the world's largest economy.

Crude prices dropped further below $120 a barrel after Tropical Storm Edouard hit the Texas coast without causing any major disruption to US energy operations. But investors still held to some of their safe bond holdings, in a sign of lingering caution. Japanese government bond futures hit a 4-month high amid worries about the outlook for the world's second-largest economy.