HK, most regional markets slip in wake of rate hike
Asian shares were mostly lower on Thursday following the US Federal Reserve’s interest rate hike decision for the first time in three years. In Hong Kong, the benchmark Hang Seng Index ended trading 109 points, or 0.44 percent, lower at 24,604. The tech index was 14 points, or 0.34 percent, down at 4,310 while the China Enterprises Index was 31 points, or 0.38 percent, lower at 8,175. On the mainland, the Shanghai Composite Index closed down 16 points, or 0.41 percent, at 3,875 on turnover of 868.77 billion yuan. The Shenzhen Component Index fell 44 points, or 0.33 percent, to 13,409 on turnover of 954.36 billion yuan while the ChiNext Index was 13 points, or 0.4 percent, down at 3,298 on turnover of 443.22 billion yuan. In Tokyo, the Nikkei ended 213 points, or 0.3 percent, higher at 64,136 as investors snapped up beaten-down gaming and pharmaceutical stocks. The broader Topix gained 32 points, or 0.8 percent, to 4,094. In Seoul, the Kospi ended two points, or 0.04 percent, down at 6,715 as South Korean shares erased early gains to close little changed amid caution ahead of the Bank of Japan's policy decision. Market reactions were “pretty much expected since the rate rise was also in line...
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