TOKYO/HONG KONG -- Asian currencies were hit and stock markets were broadly lower on Thursday after the U.S. Federal Reserve indicated that it expected to make its first post-pandemic interest rate increase in 2023.
In Japan, the blue-chip Nikkei Stock Average at one point dropped over 400 points, or 1.4%, before trimming its losses to close down 0.9%. The broader Topix benchmark slipped 0.6% while the startup-concentrated Mothers index was hit the hardest, declining 1.7%.
