Asian stocks mixed after Fed confirms rate hike plans

Benchmarks in Hong Kong and Sydney declined while Tokyo, Shanghai and Seoul were higher. Oil prices also advanced.

The Shanghai Composite Index rose 0.4% to 3,111.17 and the Nikkei 225 in Tokyo advanced less than 0.1% to 26,689.00. The Hang Seng in Hong Kong shed 0.6% to 20,053.50. The minutes from the Fed meeting this month show most board members agreed that half-point increases to the Fed's benchmark short-term rate “would likely be appropriate.” That would be double the usual margin of increases.

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