Asia Pacific Market Continues to Slide after US FED Stands Rate at 5.25-5.5%

Most of Asia Pacific markets continued to slip on Thursday morning (21 Sep) after US FED decided to stand the rate between 5.25% to 5.5% and also signaling more hike to come, causing a drop to almost every asset in US market on last night. The bearish effect continued through this morning on Asia markets as well.


South Korean KOSPI and Taiwan’s TWII led the falling today by losing over 1% on both, down to 2530 and 16,370, respectively. Hong Kong’s HSI, Japan’s NIKKEI and Australian ASX 200 both lost by 0.9% each, dropping both indices under 17,700, 32,700 and 7,100, respectively. The other major indices were all in the negative zone with lesser losses.


Meanwhile, the US Futures indices all dropped last night. S&P already went down to 4,440 and NASDAQ also went down under 15,100 levels. Energy commodities also fell down as well, WTI crude oil dropped below $89 and Brent also went under $93 per barrel.


The precious metal like gold was losing $1,950 per Troy ounce, while the US Dollar Index (DXY) was the only index that rose last night, going over 105.2.