Asian equity markets extended losses on Thursday, tracking a broad decline on Wall Street after the US Federal Reserve delivered its third straight 75 basis point rate hike and signaled further policy tightening until inflation abates. The Taiwanese, Indonesian and Philippine central banks are also set to raise interest rates today, keeping markets on edge. Meanwhile, the Bank of Japan maintained its ultra-loose policy and remained dovish in its outlook despite pressure from rising global interest rates and a weakening yen. Benchmark stock indexes in Japan, China, Hong Kong and South Korea all traded in negative territory. Australian markets were closed for a holiday.
