Asian Shares Fall as U.S. Fed Minutes Show Continued Hawkish Stance

Shares in Asian markets traded mostly lower on Thursday as the U.S. Federal Reserve minutes showed a split among the central bank over its decision to suspend rate hikes in June.

As of 9.32 A.M. Bangkok time, the Nikkei 225 in Japan fell 1.02%. In South Korea, the Kospi dropped 0.23%.

In Australia, the S&P/ASX 200 slid 0.94%.

Hong Kong’s Hang Seng index fell 0.89%. MeanwhileIn, the Shanghai Composite in mainland China gained 0.13%.

The movement was prompted by minutes from the Federal Reserve’s June meeting that revealed splits among policymakers over the decision to pause, with voting members expected to raise rates this month.

Officials stated that a temporary halt in the Fed’s tightening cycle would allow the committee to evaluate the effects of the rises, which were the most forceful steps since the early 1980s.

This week, Janet Yellen, the treasurer of the United States, will begin her trip to Beijing, where she will meet with high-ranking Chinese officials. 

The Dow Jones Industrial Average closed down 0.38% and the S&P 500 was down 0.2% following the release of the Fed minutes. Both indices ended three-day winning streaks. The Nasdaq Composite also fell by 0.18%.