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Stocks

Asian markets rise after Fed delivers widely expected rate increase

South Korean and Taiwanese benchmark indexes lead gains, while Hong Kong shares lag

HONG KONG (Nikkei Markets) -- Asian stocks rose on Thursday after the U.S. Federal Reserve raised interest rates and maintained its outlook for three additional increases next year, even as it expressed caution over low inflation.

The Nikkei Asia300 Index of more than 300 regional companies outside of Japan edged 0.5% higher by midday on Thursday. KB Financial Group advanced 3% in Seoul, while the Hong Kong-listed shares of China Construction Bank (CCB) and Industrial & Commercial Bank of China (ICBC) added 0.9% and 0.8%, respectively. Technology heavyweight Samsung Electronics advanced 1.4% in Seoul, and in Taipei, Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, climbed 1.1%.

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