Japan surges as Fed reopens door to December taper

Minutes from the US Federal Reserve's October committee meeting have helped push Japanese stocks higher after the central bank hinted at slowing its asset purchase programme.

In a meeting which took place prior to the strong US jobs figures revealed last month, Fed officials reasserted they may taper at one of the "next few meetings" if labour market data warranted. Officials also discussed "alternative actions to provide accommodation at the same time [as tapering]," suggesting they are turning their attentions away from a focus on QE. Possibilities include a cut on interest payable on excess reserves, which "most participants" thought it worth considering, despite incoming Fed chair Janet Yellen having appeared to rule out such a move. Shares in the U...