Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, as traders reacted to the US Fed's decision to raise interest rate by 25 basis points and signaled another rate hike despite recent turmoil in the banking industry. While the interest rate hike was widely expected, some traders may have been holding out hope the Fed would leave rates unchanged. Asian Markets closed mostly higher on Wednesday.
The central bank's latest projections suggest the Fed plans to raise rates just one more time this year to a range of 5.0 to 5.25 percent.
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