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ASIA ECONOMICS: Asian Shares Slump after Fed Hike

Stock markets across the Asia-Pacific region closed deep in the red on Thursday, following steep losses on Wall Street overnight, after the Federal Reserve raised short-term interest rates for the fourth time this year and lowered forecasts for hikes in 2019 on the back of recent signs of softening global growth, said Trading Economics. The Nikkei 225 plunged 2.8% to end at a 14-month low of 20,393; the Shanghai Composite lost 0.5% to 2,536; the Hang Seng fell 0.9% to 25,624; the Kospi ended 0.9% lower at 2,060; and the S&P/ASX 200 slumped 1.3% to hit a two-year low of 5,506.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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