Asian equities closed mostly lower on Thursday after the U.S. Federal Reserve raised interest rates for the second time this year, as was widely expected by markets.
The Chinese stock market was mostly unchanged over the fears of monitory policy tightening will soon start to weigh on the country's economic growth and the rising borrowing costs in the country's interbank market, with most sectors felling for the day led by banking and consumer stocks which traded near their record highs.
Moreover, the Chinese central bank left its interest rate unchanged when the US Federal Reserve raised its rate by 25 base points during yesterday’s trading session, despite following it with its short-term rates in March.
Meanwhile, the economic numbers this week showed that the China's economy generally remained on solid footing in May, but tighter monetary policy, a cooling housing market and slowing investment reinforced views that it will gradually lose momentum in coming months.
The Chinese stock market index Shanghai Composite Index added 0.1 percent settling at 3,132.49 up from 3,125.59.
The stronger Japanese Yen led the Japanese stock market lower with Nikkei 225 losing 0.44 percent or 88.03 points to settle at 19,795.49 down from 19,755.34.
Automakers dell despite their gains from yesterday’s trading session due the stronger Yen as well as the banking sector.
Moreover, in the energy sector Index fell by 1 percent and JXTG Holdings dropped more than 2 percent after the Oil futures sharp decline over the Energy Information Administration report showing a buildup in crude oil and gasoline stock.
Australian shares fell on Thursday, hurt by weaker energy and basic material stocks and an overnight dip on Wall Street after the U.S. Federal Reserve hiked interest rates, Australia shares index ASX200 saw sell-off, tumbled1.21 percent, or 70.704 points, to close at 5,763.2, however, the AUDUSD jumped to more than two months high after the good Jobs data
The energy and basic materials shares were among the worst performance in the index effecting buy the low prices of the oil and commodities; Banks which had gains last two days down today due to a profit taking
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