Although an improving US economy implies that the end of the Federal Reserve's USD $85 billion bond buying program (quantitative easing) is getting nearer, it had no negative impact on Asian stocks today. Moreover, China posted a positive trade balance (a four-year high trade surplus at USD $33.8 billion in November 2013) with exports jumping 12.7 percent (yoy). Although Japan's current account fell into a deficit and the country's third quarter GDP growth was lower than expected at 1.1 percent, market participants responded positive as the disappointing figures triggered speculation that the Bank of Japan will maintain its stimulus program.

Tomorrow a column will be devoted to today's released economic policy package.