Asian stock markets, led by Japan, are mostly lower on Thursday following the overnight sell-off on Wall Street after the U.S. Federal Reserve raised interest rates for the fourth time this year and also projected two rate hikes next year, with the central bank's tone not as dovish as investors had hoped. Investors also remained cautious ahead of the Bank of Japan's monetary policy decision due later in the day.
The Australian market has pared early losses and is modestly lower after the U.S. Federal Reserve raised interest rates as expected. Banks and mining stocks are mostly higher with modest gains.
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