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Asian Stocks Lower as Fed Raises Rates

The majority of Asian markets were lower after the Federal Reserve increased rates for the first time in a year and investors digested its hawkish rate outlook for next year. MSCI’s broadest index of Asia-Pacific shares excluding Japan fell 1.2 percent.

Japan’s Nikkei 225 edged up 0.1 percent at 19,273.79. Australia’s ASX 200 slipped 0.82 percent at 5,538.6, with firm drops in its energy sub index, which lost 3.39 percent, and it’s all-ordinaries gold sub index, that sank 4.98 percent on lower spot gold prices. South Korea’s Kospi traded flat at 2,036.65.

China’s Shanghai composite slipped 0.71 percent at 3,118.32 and the Shenzhen composite edged up 0.666 percent at 1.972.9. Hong Kong’s Hang Seng sank 1.87 percent. Shares of China-based company Meitu were down 4.21 percent to 8.41 Hong Kong dollars a share.

The material has been provided by InstaForex Company – www.instaforex.com

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Asian Stocks Lower as Fed Raises Rates Reviewed by on . The majority of Asian markets were lower after the Federal Reserve increased rates for the first time in a year and investors digested its hawkish rate outlook The majority of Asian markets were lower after the Federal Reserve increased rates for the first time in a year and investors digested its hawkish rate outlook Rating:
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