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Asia markets hit as oil sinks and Fed effect wears off

2015-12-18 22:19:09| Energy - Topix.net

Asian stock markets fell back on Friday after a two-day rally boosted by the Federal Reserve's interest rate hike, as the rout in oil prices returned to centre stage, with commodity-linked shares again taking a hit. Exchanges from New York and Sao Paolo to London and Tokyo cheered the Fed's widely-expected decision Wednesday to lift borrowing costs for the first time in almost a decade, which was taken as a sign of its confidence in the world's top economy.

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