By The Financial District
Global Markets Mixed After U.S. Fed Raises Rates
European and Asian markets were mixed during Thursday, Mar. 23, 2023, trade as investors digested the decision by the US Federal Reserve to raise its main interest rate by 25 basis points in a bid to bring down inflation, Juliana Liu and Anna Cooban reported for CNN Business.
Photo Insert: One of Hong Kong's top gainers was internet giant Tencent, which ended the day up 8.2% after reporting a strong rise in its online advertising business in the December quarter on Wednesday.
European markets opened lower, with the region’s benchmark Stoxx Europe 600 index falling 0.9% in late-morning trading. Germany’s DAX dropped 0.8%, while France’s CAC 40 fell 0.7%.
London’s FTSE 100 slid back 1.1%. Europe’s Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, dropped 0.9% late morning after a rollercoaster two weeks for the banking sector following the collapse of two US lenders, Krystal Hur, and Laura He also reported for CNN Business.
But in Hong Kong, the benchmark Hang Seng (HSI) index closed 2.3% higher, leading gainers in Asia.
One of the top gainers was internet giant Tencent, which ended the day up 8.2% after reporting a strong rise in its online advertising business in the December quarter on Wednesday.
In Japan, the Nikkei 225 (N225) closed 0.2% lower. The broader Topix index finished down 0.3%. South Korea’s Kospi was 0.3% higher, while Australia’s S&P ASX 200 closed 0.7% lower.
Asian shares had opened broadly lower, tracking losses on Wall Street. In the US, the Dow closed 1.6% lower on Wednesday, while the S&P 500 slipped about 1.7%. The Nasdaq Composite declined 1.6%.
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