MSCI's broadest index of Asia-Pacific shares outside Japan dropped 1.2 percent
Japan's Nikkei rose fractionally on Thursday in choppy trade as the dollar surged against the yen after the U.S. Federal Reserve raised rates for the first time in a year and hinted further hikes could come at a faster pace than the market had expected.
The Nikkei share average rose 0.1 percent to 19,273.79 after dipping into negative territory.
China stocks slid to one-month lows on Thursday, after the U.S. Federal Reserve raised interest rates and signalled a faster-than-expected pace of policy tightening.
Strength in small-caps was offset by a tumble in banking shares, triggered by a dramatic sell-off in bond markets that raised the spectre of liquidity crunch in the banking system.
The blue-chip CSI300 index fell 1.1 percent, to 3,340.43 points, while the Shanghai Composite Index lost 0.7percent to 3,117.68 points, their lowest levels since early November.
Hong Kong stocks slumped to a four-month low, tracking Asian markets, after the U.S. Federal Reserve raised interest rates and rate-path projections.
The benchmark Hang Seng index extended early losses to end down 1.8 percent, at 22,059.40 points. The Hong Kong China Enterprises Index lost 2.3 percent, to 9,479.16 points.
Reference: Reuters
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