Stocks retreat, dollar strengthens on hawkish Fed

Asian stocks followed Wall Street’s lead on Thursday, dipping across the board as investors interpreted the US Federal Reserve’s latest policy statements as signalling higher-for-longer interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.6 per cent, with the Hong Kong benchmark shedding 0.8 per cent. Japan’s Nikkei fell 1.0 per cent. […]