Dollar shines, Asia shares slip after Fed signals December rate hike

The US dollar shone while Asian shares slipped slightly on Thursday after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year.

MSCI’s broadest dollar-denominated index of Asia-Pacific shares outside Japan was down 0.4 percent. South Korea’s Kospi was down 0.1 percent while Australia shed 0.6 percent.

Japan’s Nikkei gained 0.8 percent thanks to the yen’s fall against the dollar.

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Posted in: Indian Market Tips