Investing.com - Asian equities were mixed in morning trade on Thursday after the U.S. Federal Reserve raised rates by a quarter point.
On Wednesday, The Federal Open Market Committee increased the overnight funds rate to a range of 2.00% to 2.25%.
Fed Chairman Jerome Powell also discussed trade related issues, adding that the Fed had heard a "rising chorus of concerns from businesses all over the country."
He also indicated there was no change in his thinking on monetary policy, although the Fed made an amendment to the statement by removing the use of “accommodative” to describe its stance on monetary policy.
There was much debate about whether removal of that key phrase was hawkish or dovish, but the Fed chief poured some cold water on the speculation.
"The change does not signal any change in the likely path of policy," Powell said at his press conference. "Instead it is a sign that policy is proceeding in line with our expectations."
Powell also noted that he doesn't see inflation surprising to the upside.
Overnight, the Dow Jones Industrial Average fell 0.4% and the S&P 500 lost 0.3%. The Nasdaq Composite dropped 0.2%.
In Asia, China’s Shanghai Composite and the Shenzhen Component both fell 0.2%, while Hong Kong’s Hang Seng Index inched up 0.1%.
Japan’s Nikkei 225 also traded 0.2% higher after U.S. President Donald Trump said overnight that he had reached an agreement with Japanese Prime Minister Shinzo Abe to open trade talks between the two nations.
In South Korea, the KOSPI advanced by 0.6% on its first trading day of the week after returning from a public holiday period.
Down under, Australia’s S&P/ASX 200 slipped 0.04%.