Asia markets mixed after Fed delivers first rate hike in 3 years

Mettis Global reported that Asian stock markets were mixed on Thursday as traders weighed the effects of the Federal Reserve's decision to lift its benchmark rate by 25 basis points. Japan's Nikkei 225 rose 0.87 per cent, while South Korea's Kospi climbed 1 per cent and Hong Kong's Hang Seng Index slipped 0.49 per cent. Australia's S&P/ASX 200 edged up 0.16 per cent.

U.S. stocks closed lower in the previous session, with the Dow Jones Industrial Average dropping by over 630 points, which equals 1.2 per cent, while the S&P 500 lost 0.5 per cent. Oil prices eased after the Trump administration said Saudi Arabia's damaged East-West pipeline should resume operations within days, though Iran's vow to keep fighting kept geopolitical risks high. Crude has nonetheless moved above $100 per barrel.

The Federal Reserve lifted its target range to 3.75%-4% on Wednesday, and policymakers signalled another increase is possible later this year. Chairman Kevin Warsh said inflation remains elevated, with U.S. consumer prices up 3.4% in August. Attention now turns to weekly jobless claims and August housing starts for clues on labor markets and the cost of borrowing in housing.