Asian Equities Posted Heavy Loss as FED Assured on Rates Hike Timeline

Asian equities dropped sharply on Thursday after U.S. Federal Reserve set timeline for first rates hike in March along with gradual reduction of Fed’s balance sheet.

The SET, KOSPI, TOPIX, CSI 300, HSI dragged sharply down by 0.56%, 3.50%, 2.61%, 1.96% and 1.99% respectively.

MSCI broad market index ex. Japan is down by 0.13%.

U.S. futures S&P 500 and Nasdaq 100 are up by 0.08% and 0.33% respectively.

The dollar index strengthened up by 0.92% at 96.826 level.

Crude oil future Brent reached $90  per barrel level up by 0.23% trading at $9.17 per barrel while WTI is at $87.52 per barrel up by 0.19%.