Asian stocks fall after Fed
Asia-Pacific markets fell on Thursday after Wall Street’s overnight reaction after the Fed raised interest rates another 25 basis points.
Shares of regional banks in the US also fell after Treasury Secretary Janet Yellen responded to a question from officials that they were not considering “general insurance” for bank deposits.
Australia’s S&P/ASX 200 Index led losses in the region, down 0.86 percent, with miners leading losses in the index. In Japan, the Nikkei 225 dropped 0.86 percent and Topix 1.07 percent.
South Korea’s Kospi index fell 0.67 percent, while the Kosdaq fell 0.24 percent.
Major Chinese markets supported the trend, with the Hang Seng index rising 0.14 percent, the Shenzhen Component Index rising 0.3 percent and the Shanghai Composite Index 0.3 percent.