Stock Market Live Updates: Asian stocks slide on Fed’s signal of prolonged higher interest rates

In the opening trade, Asian equity benchmarks saw a decline. Japanese stocks, in particular, started Friday on a lower note, influenced by the recent drops on Wall Street and with investors eagerly awaiting the conclusion of the Bank of Japan’s policy meeting. On Thursday, stocks across Asia experienced declines, while the U.S. dollar strengthened, following the Federal Reserve’s indication of prolonged higher interest rates.

The benchmark Nikkei 225 index experienced a 0.98% decline, equivalent to 319.82 points, settling at 32,249.21 during early trading. Meanwhile, the broader Topix index dropped 0.81%, or 19.37 points, reaching 2,364.59. The Korea Composite Stock Price Index (KOSPI) displayed weakness, falling by 0.82% or 20.33 points to 2,494.23. Australia’s S&P/ASX 100 also recorded a decline of 1.13%, equivalent to 67.2 points, bringing it to 5,868.8.