In Asian Equity Markets indices fell on Thursday after the Federal Reserve raised interest rates, a widely expected move, and indicated two more rate hikes were likely in 2018. The Nikkei 225 slipped 0.53 percent, paring steeper losses seen earlier in the session. Mining stocks fell 1.79 percent as most other sectors declined, although banks and shippers clung to gains. In Seoul, the Kospi fell 1.59 percent, lagging other major markets in the region. Automakers were also lower, with Hyundai Motor falling 2.85 percent.

In Currency Markets the US dollar slipped back from three-week highs against the yen on Thursday, quickly erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signalling two more rate hikes by year-end. The dollar last traded at 110.19 yen , down 0.15 percent, having lost steam after hitting a three-week peak of 110.85 shortly after the Fed’s latest policy statement, which saw a solid outlook for the world’s biggest economy. The euro nudged up 0.1 percent to $1.1802 , bouncing back from $1.1725 hit after the Fed’s announcements.

In Commodities Markets oil prices eased on Thursday, dragged down by rising output, although strong demand and a decline in U.S. fuel inventories provided the market with some support. Brent crude futures, the international benchmark for oil prices, were at $76.46 per barrel, down 28 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.58 a barrel, down 6 cents from their last settlement. Prices were pulled down by another rise in U.S. oil production, which hit a weekly record of 10.9 million barrels per day (bpd) last week.

In US Equity Markets stocks ended a choppy session lower on Wednesday after the U.S. Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year. The S&P 500 fell 0.40 percent, to 2,775.63 and the Nasdaq Composite declined 0.11 percent, to 7,695.70. S&P financials, which tend to benefit from rising interest rates, ended down 0.3 percent. Shares of HBO channel owner Time Warner rose 1.8 percent. AT&T fell 6.2 percent in its highest volume day ever, sending the S&P telecom services index down 4.5 percent.

In Bond Markets Japanese government bond prices were steady to a touch firmer on Thursday, as investor risk aversion weighed on Japan’s equities. The five-year JGB yield was flat at minus 0.110 percent and the 20-year yield dipped half a basis point to 0.515 percent. September 10-year JGB futures added 0.08 point to 150.69. The JGB market took in stride a decision by the Bank of Japan to trim the amount of mid-term maturity debt it offered to purchase at Thursday’s regular operation.