Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from global markets overnight, as traders react to the US Fed's widely expected decision to resume hiking interest rates following a pause last month. The Fed decided to raise the target range for the federal funds rate by 25 basis points. Asian Markets closed mostly lower on Wednesday.
In his post-meeting press conference Fed Chair Jerome Powell said it is possible the central bank could raise rates again in September or hold steady, noting the central bank plans to take a meeting by meeting approach.
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