Asian stock markets mixed on differing Fed comments

Asia-Pacific markets were mixed on Wednesday as Fed officials gave mixed signals on future rate hikes. Asia-Pacific markets were mixed on Wednesday as Wall Street’s earnings season continued and Fed officials gave mixed signals on future rate hikes. Atlanta Fed President Raphael Bostic said he sees another 25 basis point rate hike before pausing to see the impact on the economy. That would take the U.S. federal funds rate to 5% to 5.25%. Bostic’s comments came as St. Louis Fed President James Bullard said he favored a higher terminal rate of between 5.50% and 5.75%. Australia’s S&P/ASX 200 rose 0.14%, while Japan’s Nikkei 225 fell 0.43% and Topix fell 0.37%. South Korea’s Kospi rose 0.16% and Kosdaq rose 0.38%. Mainland Chinese markets were all down, with the Shanghai Composite Index losing 0.14 percent and the Shenzhen Component Index shedding 0.35 percent. Hong Kong's Hang Seng index was 0.37 percent lower and the Hang Seng Tech index lost 0.61 percent.