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Asian emerging markets rallied on Monday, as investors pinned hopes on continued US bond-buying to help ease growing domestic economic pressures.
Bangkok’s Set index had a particularly strong day, climbing 3.1 per cent and the baht rallied on relief at the news Lawrence Summers had backed out of the race to head the US Federal Reserve, leaving vice-chair of the Fed, Janet Yellen – seen as more dovish than Mr Summers – as the perceived frontrunner. Only Indonesian equities posted larger gains, rising 3.4 per cent.
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