Article taken from: www.cnbc.com
CNBC 100 —
In other Asian market news, Japan’s Nikkei 225 fell 1.05 percent to close at 22,250.25 while the Topix index saw losses of 0.49 percent to end the trading week at 1,627.98.
South Korea’s Kospi slipped 0.31 percent to close at 2,086.09, with the moves coming after the country’s president, Moon Jae-in , fired his top economic policymakers and replaced them with people from within the government . According to Reuters, the move indicates Moon aims to reinforce his controversial economic policies, which economists have said were hurting growth.
In Australia, the ASX 200 slipped by 0.11 percent to close at 5,921.8, with the major sectors mixed. Energy stocks fell by 1.25 percent while the heavily weighted financial subindex recovered to see gains of 0.23 percent. Fed leaves rates unchanged
Overnight on Wall Street, the S&P 500 slipped 0.25 percent to close at 2,806.83 and the Nasdaq Composite saw declines of 0.5 percent to 7,530.88 by the closing bell. The Dow Jones Industrial Average , on the other hand, climbed 10.92 points to close at 26,192.22 — marking a four-session winning streak.
The moves came after the Fed kept interest rates unchanged , as was widely expected. The central bank said in a statement, however, that it expects “further gradual increases” in the overnight rate. The Fed also did not mention the volatility that has hit the market recently.
“This Fed meeting may be the catalyst (that) slows up the feel good factor that the markets have enjoyed over the last few sessions post the US midterm election results,” Rakuten Securities Australia said in a morning note.
“We’d seen a positive ‘risk on’ trading environment after the midterms (passed) largely in line with expectations, but with the Fed confirming that they are sticking with