Asia-Pacific shares mostly rose Thursday after the U.S. Federal Reserve raised rates to their highest level in more than 22 years while leaving the door open for further tightening.
In Japan, the Nikkei 225 index recovered 222.82 points, or 0.7%, to 32,891.16.
In Hong Kong, the Hang Seng recouped 273.97 points, or 1.4%, to 19,639.11.
The Fed’s FOMC on Wednesday raised its funds rate by a quarter percentage point to a target range of 5.25% to 5.5%. The midpoint of that target range would be the highest level for the benchmark rate since early 2001.
CHINA
In China, the CSI 300 sank 4.66 points, or 0.1%, to 3,902.35.
Annual profits raked in by China’s industrial firms declined for the sixth consecutive month.
China’s industrial profits recorded a year-to-date fall of 16.8%, according to the country’s National Bureau of Statistics. The reading is followed by a 18.8% drop from January to May.
For the month of June alone, industrial earnings decreased 8.3%.
In other markets
In Singapore, the Straits Times Index gained 32.46 points, or 1%, to 3,337.42.
In Korea, the Kospi Index regained 11.45 points, or 0.4%, to 2,603.81.
In Taiwan, the Taiex index surged 79.27 points, or 0.5%, to 17,241.82.
In New Zealand, the NZX 50 doffed 0.62 points to 11,954.11.
In Australia, ASX 200 hiked 53.91 points, or 0.7%, to 7,455.92.