Investing.com - Asian shares were mixed on Thursday after the Federal Reserve said overnight the U.S. economy was expanding "at a solid pace" as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year.
The U.S. central bank repeated it would be "patient" in deciding when to raise benchmark borrowing costs from zero, where they have been stuck since late-2008.
Australian shares touched a 20-week intraday high before paring gains on Thursday with energy companies in focus. The S&P/ASX 200 index rose 0.33% before trimming gains. Woodside Petroleum Ltd (ASX:WPL) fell 2.21% and Santos Ltd (ASX:STO) dropped 4.3%.
The Shanghai Composite however gained 1.60%, while the Hang Seng was down 1.07%.
Overnight, U.S. stocks were lower after the close on Wednesday, as losses in the Oil & Gas, Basic Materials and Financials sectors led shares lower.
At the close in New York, the Dow Jones Industrial Average fell 1.13% to hit a new 1-month low, while the S&P 500 index fell 1.35%, and the NASDAQ Composite index declined 0.93%.
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Asian shares mixed after Fed signals "solid" growth ahead
Published 01/28/2015, 10:37 PM
Updated 01/28/2015, 10:40 PM
Asian shares mixed after Fed signals "solid" growth ahead
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