Asian stocks retreat, dollar holds gains on hawkish Fed statement

Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve delivered a hawkish policy statement.

MSCI’s broadest index of Asia-Pacific shares outside Japan slid 0.15 percent in early trade on Thursday.

Japan is closed for the Golden Week holiday. South Korea’s KOSPI bucked the weaker trend and was up 0.5 percent after touching an all-time high earlier in the session on strong corporate earnings.

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