Asian Shares Finished Lower After Bullish Fed

Asian shares headed mostly lower, following Wall Street’s lead, after the US Federal Reserve indicated it was still on track to raise interest rates this year.

The Dow Jones fell 1.1% to a six-week low, while the S&P 500 lost 1.4%.

In Japan, the benchmark Nikkei 225 closed down 1.1% at 17,606.22 – its biggest one-day drop for two weeks.

That came despite data showing retail sales rose for the sixth consecutive month in December.

However, the 0.2% year-on-year growth fell short of gains expected by economists.

Shares of Nintendo slumped 8.7% after the video game maker halved its operating profit target for the fiscal year through March to 20bn yen ($169m; £112m) from 40bn yen.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza