Asian shares firm, dollar bruised as Fed hike dashes more hawkish bets

HONG KONG : Asian shares tracked Wall Street gains on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment but sending yields and the dollar lower.

Early moves in Asia followed a U.S. rally overnight where the Dow Jones Industrial Average rose 2.81 per cent, the S&P 500 gained 2.99 per cent, and the Nasdaq advanced 3.19 per cent. [.N] Chinese names rallied after Beijing signaled an easing of its crackdown on the once-freewheeling tech sector and pledged policy support for the world's second-largest economy.

However, Powell also said the Fed was not"actively considering" a 75 basis-point rate hike, tempering some market expectations for an aggressive tightening path.The dollar index, which measures the greenback against six peers, was at 102.56, having been as firm as 103.63 on Wednesday.

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