Asian shares slip after fed rate hike

Dhaka,  Wed,  27 September 2017
Published : 15 Jun 2017, 10:32:54

Asian shares slip after fed rate hike

Asian shares slip after fed rate hike
Shares fell in Asia on Thursday after the US Federal Reserve raised interest rates, as expected. 

Lower oil prices took a toll on energy-related shares across the region, while Japan's benchmark slipped as the yen gained against the dollar. Property developers led the decline in Hong Kong. 

Japan's Nikkei 225 stock index fell 0.4 per cent to 19,797.46 and South Korea's Kospi sank 0.6 per cent to 2,358.34. The Hang Seng in Hong Kong dropped 0.9 per cent to 25,643.15. 

Shanghai's Composite index edged 0.1 per cent lower to 3,128.29 and the S&P ASX 200 in Australia tumbled 1.1 per cent to 5,770.90. Shares in Southeast Asia also were mostly lower.

The S&P 500 index edged 0.1 per cent lower, to 2,437.92. The Dow Jones industrial average rose 0.2 per cent, to a record 21,374.56.  The Nasdaq composite lost 0.4 per cent, to 6,194.89.

Oil futures plunged overnight after the US government said oil supplies shrank only slightly last week while gasoline stockpiles grew. 

Benchmark US crude fell another 5 cents to $44.68 a barrel in electronic trading on the New York Mercantile Exchange. It fell $1.73, or 3.7 per cent, to settle at $44.73 a barrel in New York. 

Brent crude, used to price international oils, edged 1 cent higher to $47.01 a barrel. It had shed $1.72, or 3.5 per cent, to close at $47 a barrel in London.

The dollar edged lower to 109.56 from 109.57 yen. The euro edged up to $1.1219 from $1.1217, reports AP.
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