US Federal Reserve Rate Hike: Here's how global markets reacted
- Hong Kong's benchmark Hang Seng index slipped 0.6% to 20,554.09 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 with the U.S. dollar.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, July 26, 2022. Asian stock markets were mostly higher Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation. (AP Photo/Ahn Young-joon)