Asia markets fall after Fed raises rates by 50 basis points, signals more hikes next year

The S&P/ASX 200 fell 0.52%. The Nikkei 225 in Japan traded 0.27% lower as investors digest trade data from Japan and South Korea. South Korea’s Kospi also fell 1.03%.In the U.S., the S&P 500 snapped a 2-day winning streak following the decision, with major averages hitting session lows after Fed Chair Jerome Powell signaled more data was needed before the central bank would meaningfully change its view on inflation.China’s November retail sales see significant missChina’s industrial production for November grew 2.2%, after seeing a growth of 5% in October, according to official data. That’s lower than expectations for growth of 3.6% in a Reuters survey.Retail sales fell 5.9% on an annualized basis, further than expectations of a decline of 3.7% in a Reuters survey and a fall of 0.5% the previous month.— Jihye LeeJPMorgan expects Asian markets to end week with cautious tone after Fed hikeJPMorgan expects markets in the Asia-Pacific region to end the week on a cautious tone following the Federal Reserve’s interest rate hike of 50 basis points.”Given the U.S. market reaction after the FOMC meeting, we expect Asian markets to end the week with more cautious tone,” Tai Hui, the firm’s Asia-Pacific chief market strategist, said in
Read More