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Asia Markets: Asian markets edge higher after Fed puts lid on rate hikes

Asian markets ticked higher in early trading Thursday after the U.S. Federal Reserve kept interest rates unchanged and indicated there would be no rate hikes for the rest of the year.

While Fed Chairman Jerome Powell said Wednesday that the U.S. economy was in “a good place,” the announcement was interpreted as a sign of caution toward slowing global growth.

Japan’s Nikkei

NIK, +0.20%

  rose 0.2%, while Hong Kong’s Hang Seng

HSI, +0.17%

  advanced about the same. The Shanghai Composite

SHCOMP, +0.61%

  gained 0.6% and South Korea’s Kospi

SEU, +0.22%

  rose 0.3%. Stocks mostly gained in Taiwan

Y9999, +0.40%

 , Singapore

STI, +0.04%

  and Indonesia

JAKIDX, +0.04%

 , but declined slightly in Australia

XJO, -0.39%

 .

Among individual stocks, Rakuten

4755, +4.12%

  surged in Tokyo trading, while Sony

6758, -3.38%

  and Yahoo Japan

4689, -1.77%

  slipped. In Hong Kong, CNOOC

0883, +2.03%

  and Sands China

1928, +1.31%

  rose, and Samsung

005930, +3.86%

  and SK Hynix

000660, +6.24%

 jumped in Korea.

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