Asian stocks trade lower on hawkish US Fed policy, interest rate hike

The yen was little changed after the BOJ cut some bond purchases in its regular operations

Stocks in Asia traded mixed on Thursday after the Federal Reserve struck a hawkish tone in its latest policy statement and China reported softer-than-anticipated economic indicators for May.
 

Equities fell in Japan and South Korea, which reopened after a holiday, while Australian shares were little changed. Chinese equities outperformed even as retail sales and industrial output data disappointed. Earlier, the S&P 500 fell after the Fed raised rates and signalled it may pick up the pace of increases this year.

Ten-year Treasury yields briefly crossed the 3 per cent threshold after the announcement before pulling back. The dollar remained