The swap agreement between the Fed and other Central Banks seems to make much sense on South Korea than Brazil. Here we are evaluating the "no-movement" our Central Bank took today (they decided not to change the interest rate).
HONG KONG (MarketWatch) -- Seoul-listed shares surged early Thursday, leading Asian markets, on the U.S. Federal Reserve's half-point interest rate cut overnight and after a liquidity swap agreement between the Fed and the South Korean central bank. Beaten-down shipbuilders such as STX Shipbuilding Co. paced the across-the-board advance in Seoul, lifting the Kospi 5.7% to 1,024.42. In Tokyo, the Nikkei 225 Average advanced 1.8% to 8,357.90 and the broader Topix index added 1.4% to 842.19. Australia's S&P/ASX 200 rose 2.1% to 3,925.20 and New Zealand's NZX 50 index inched up 0.2% to 2,752.03.