Asian stocks sink after Fed's hike signal, Trump-Kim summit
SEOUL, South Korea (AP) — Asian stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. South Korea's market benchmark tumbled nearly 2 percent on the first trading day after a meeting of U.S. and North Korean leaders.
KEEPING SCORE: Japan's Nikkei 225 sank 1 percent to 22,738.61 while South Korea's Kospi plunged 1.8 percent 2,423.48. Hong Kong's Hang Seng index dropped 1.1 percent to 30,390.22. China's Shanghai Composite Index was down 0.1 percent to 3,046.23. Australia's S&P-ASX 200 slipped 0.1 percent to 6,016.60. Stocks in Taiwan, Singapore and other Southeast Asian markets were also lower.
FED: The Fed's rate hike was its second this year.