Read more about World stocks mixed, oil prices climb after Fed rate hike on Business Standard. Asian stocks surged Thursday while European markets opened lower after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries.Oil prices rose more than USD4 per
Asian stocks surged Thursday while European opened lower after the announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Oil prices rose more than USD4 per barrel. London and Frankfurt and Wall Street futures sank. Hong Kong’s market benchmark jumped more than 7per cent and Tokyo gained 3.5per cent. Shanghai, Seoul and Sydney advanced. Wall Street’s benchmark S&P 500 index rose 2.2per cent after the Fed raised its short-term lending rate by 0.25 percentage points on Wednesday. The widely anticipated change was less than the 0.5 percentage point hike advocated by some officials. « Far from choking off growth, the start of the Fed tightening cycle seems to have been greeted warmly, » Chris Turner and Francesco Pesole of ING said in a report. Investors are cheering measures to address high inflation. In early trading, the FTSE 100 in London lost 0.1per cent to 7,283.28 and the DAX in Frankfurt sank 0.4per cent to 14,382.35. The CAC 40 in Paris shed less than 0.
