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Asian stocks fall behind Wall Street dives on price hikes

Joe Mcdonald, Ap Business Writer Updated19:56 PST, Wednesday, December 19, 2018 Stockbroker Michael Milan is working on the New York Stock Exchange on Wednesday, December 19, 2018. Stock Trader Michael Milan is working on the New York Stock Exchange on Wednesday, December 19, 2018. Photo: Mark Lennihan, AP Stockbroker Michael Milano is working on the New York Stock Exchange Wednesday, December 19, 2018. Stockman Michael Milan is working on the New York Stock Exchange Wednesday, December 19, 2018. Photo: Mark Lennihan, AP Asian stocks drop after Wall Street dike on price increase BEIJING (AP) – Asian stock markets fell on Thursday after the Federal Reserve raised US interest rates and Wall Street appeared to a 15 month low. HOLD SCORE: Tokyo Nikkei 225 Index dropped 1.7 percent to 20.631.45 points and Shanghai Composite Index lost 0.4 percent to 2.538.79. Hong Kong's Hang Seng dropped 0.4 percent to 25 748.54 and Seoul Kospi lost 0.6 percent to 2.066.09. Sydney S & P-ASX 200 dropped 0.3 percent to 5661.00, and Taiwan also dropped. The reference markets in New Zealand, Singapore and Kuala Lumpur are advanced. FED WATCH: Fed increased its key rate for the fourth time this year to reflect the US economic strength and said it is planning more more next year. The increase raised the fund's reference rate to its highest level since the global financial crisis in 2008. Fed said it expects two interest rate hikes next year instead of three. Investors were disappointed President Jerome Powell failed to…

Updated

BEIJING (AP) – Asian stock markets fell on Thursday after the Federal Reserve raised US interest rates and Wall Street appeared to a 15 month low.

HOLD SCORE: Tokyo Nikkei 225 Index dropped 1.7 percent to 20.631.45 points and Shanghai Composite Index lost 0.4 percent to 2.538.79. Hong Kong’s Hang Seng dropped 0.4 percent to 25 748.54 and Seoul Kospi lost 0.6 percent to 2.066.09. Sydney S & P-ASX 200 dropped 0.3 percent to 5661.00, and Taiwan also dropped. The reference markets in New Zealand, Singapore and Kuala Lumpur are advanced.

FED WATCH: Fed increased its key rate for the fourth time this year to reflect the US economic strength and said it is planning more more next year. The increase raised the fund’s reference rate to its highest level since the global financial crisis in 2008. Fed said it expects two interest rate hikes next year instead of three. Investors were disappointed President Jerome Powell failed to continue to indicate a slowdown in the increase.

WALL STREET: Stocks gave rise to a rally and robbed and sent the market to its lowest level since September 2017. The Dow Jones Industrial Average turned from a profit to close down 1.5 percent at 23,323.66. Standard & Poor’s 500 sped 1.5 percent to 2.506.96. It has lost 9.2 percent this month. The Nasdaq composite material yielded 2.2 percent to 6,636.83.

ANALYSIS TAKE: With headwinds for growth and inflation stabilization, “Fed can afford to slow down from here,” said Shane Oliver from AMP Capital in a report. “A more careful Fed should give some support to the markets, although more cases are possible until the beginning of next year before markets are lower and higher, as investors realize that the US / world economy soon does not enter a recession.”

CHINA LENDING: Beijing unexpectedly announced a $ 100 billion lending program to support entrepreneurs. Financial analysts saw “targeted relief” as cartoon manufacturers want to push up economic growth without resuming an increase in national debt levels.

ENERGY: Benchmark US commodities lost 77 cents to $ 47.40 per barrel in electronic commerce on the New York Mercantile Exchange. The contract jumped $ 1.57 on Wednesday to close at $ 48.17. Brent crude oil, which used to price international oils, pulled 65 cents to 56.59 dollars a barrel in London. It received 98 cents the previous session to close to $ 57.24.

CURRENCY: The dollar decreased to 112.41 yen from Wednesday, 112.44 yen. The euro received $ 1,1381 from $ 1,1375.


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