5/26, 7:30 AM (Source: TeleTrader)
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Asia-Pacific mixed after BoK raises interest rate by 25bps

Major stock markets in the Asia-Pacific region traded mixed on Thursday following the [South Korea] Bank of Korea's announcement of its second straight rate hike, increasing the benchmark interest rate by 25 basis points. The Federal Reserve is expected to proceed with additional 50-basis-point interest rate hikes, as officials warned of rising inflation caused by pandemic-related supply concerns and growing energy prices.

Japan's Nikkei 225 declined by 0.14% at 7:18 am CET, and South Korea's Kospi recorded a 0.13% loss a minute later. The Australian S&P/ASX 200 was down by 0.51% at 7:20 am CET.

In mainland China, the Shenzhen Composite was up by 0.91 at 7:10 am CET, and the Shanghai Composite increased by 0.59% at 7:21 am CET. However, Hong Kong's Hang Seng dropped by 0.68% at 7:26 am CET. The American dollar traded 0.11% higher against the Japanese yen, selling at ¥127.40350 at 7:28 am CET.

Baha Breaking News (BBN) / AB