In Asian Equity Markets stocks traded mixed Thursday in what proved to be a choppy session after the U.S. Federal Reserve raised interest rates for the first time this year. Japan’s Nikkei 225 rose 0.74 percent and the broader Topix edged up by 0.38 percent, with the mining and oil sectors climbing 4.53 percent and 2.83 percent, respectively. Elsewhere, South Korea’s benchmark Kospi advanced 0.6 percent. Major sectors, including technology and manufacturing, traded mixed, while brokerages and oil-related stocks notched gains. Chinese markets gave up early gains, with the Hang Seng Index easing 0.63 percent. Most sectors fell, with technology names dragging on the index, although oil producers firmed.

In Currency Markets the US dollar struggled against its peers on Thursday after the Federal Reserve indicated it was more likely to raise interest rate three times in 2018 instead of the four that some currency bulls had hoped for. The Fed raised rates by 25 basis points to 1.75 percent on Wednesday and signaled two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation and spur more aggressive future tightening. The dollar index against a basket of six major currencies was 0.3 percent lower at 89.528, after falling as much as 0.7 percent overnight.

In Commodities Markets oil prices were firm on Thursday, buoyed by a surprise decline in U.S. crude inventories as well as ongoing supply cuts led by OPEC, although a relentless rise in U.S. oil output threatens to undermine efforts to tighten the market. U.S. West Texas Intermediate (WTI) crude futures were at $65.20 a barrel, up 3 cents from their previous settlement. Brent crude futures were at $69.44 per barrel, down 3 cents from their last close. Further supporting oil prices has been supply restraint led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia, which started in 2017 and is scheduled to go on for the rest of 2018.

In US Equity Markets stocks ended slightly lower on Wednesday, with stocks giving up gains in choppy trade after the Federal Reserve raised benchmark U.S. interest rates, while a strong gain in the energy space helped limit losses. The S&P 500 lost 0.18 percent, to 2,711.93 and the Nasdaq Composite fell 0.26 percent, to 7,345.29. General Mills fell 9.52 percent after the company cut its full-year profit forecast due to higher freight and commodity costs. Southwest Airlines fell 4.98 percent after the carrier cut its forecast for a key revenue metric. Other airlines also fell, with the NYSE Arca Airline index down 0.94 percent.

In Bond Markets U.S. Treasury yields were slightly lower on Wednesday after the Federal Reserve raised interest rates and forecast two more hikes for 2018, fewer than the three that many market participants had expected. Two-year note yields , which are highly sensitive to interest rate policy, jumped as high as 2.366 percent, the highest since September 2008, before falling back to 2.308 percent. Benchmark 10-year note yields increased to 2.936 percent, the highest since March 12, before retracing to 2.894 percent. Japanese 10-year yield was unchanged at 0.035 percent .