Asian stocks follow Wall Street higher after Fed rate hike
ABC News
Asian stock prices have surged for a second day after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries
BEIJING -- Asian stock prices surged for a second day Thursday after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries.
Hong Kong's benchmark jumped more than 6% and Tokyo gained more than 3%. Shanghai, Seoul and Sydney also advanced.
Oil prices gained nearly $2 per barrel but stayed below $100.
Wall Street's benchmark S&P 500 index rose 2.2% on Wednesday after the Fed raised its short-term lending rate by 0.25 percentage points. The widely anticipated change was less than the 0.5 percentage point hike advocated by some officials.
