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Asian stocks bounce as Yellen flags Fed support for economy
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Asian stocks bounce as Yellen flags Fed support for economy

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Asian stocks bounce as Yellen flags Fed support for economy

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Asian stocks bounced from six-week lows on Thursday, spurred by Federal Reserve Vice Chair Janet Yellen's dovish comments which suggested the U.S. economy could count on stimulus support for a longer period than markets anticipate. Yellen, in remarks released ahead of her closely-watched Senate confirmation hearing on Thursday to succeed Fed chief Ben Bernanke, said the Fed has "more work to do" to help the economy, indicating she was in no hurry to start tapering stimulus. The comments sent U.S. stocks surging and supported bond prices, while the dollar came under pressure, although it narrowed its looses during the Asian session. "Yellen said the jobless rate is too high, and inflation is too low.

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