BANGKOK — Shares were mostly higher in Asia on Thursday after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point.
Hong Kong’s benchmark Hang Seng index slipped 0.1% to 20,642.80 after the territory’s Monetary Authority matched the Fed’s 0.75 percentage point rate hike with one of its own. The HKMA aligns its policies with U.S. monetary moves to keep the Hong Kong dollar at a stable rate against the U.S. dollar.
Elsewhere in Asia shares advanced, tracking gains on Wall Street after the Fed did exactly as expected and its chair, Jerome Powell, suggested the Fed’s rate hikes have already had some success in slowing the economy and possibly easing inflationary pressures.
Investors are awaiting an update on U.S. economic growth and a call between U.S. President Joe Biden and…
