Asian stocks outside China and Japan declined on Thursday, after the Federal Reserve kept interest rates unchanged but signaled that a December rate hike was still on the table.
"The market, economists, commentators and the man on the street has combed over all aspects of the Fed statement, and it seems all have concluded that the Federal Open Market Committee (FOMC) will follow through with its commitment to raise rates at the December meeting. It's really the only conclusion you can draw from an almost nonchalant statement," IG's market strategist Evan Lucas wrote in a note.
A positive handover from Wall Street did little to help sentiment. Major U.S. averages surged more than 1 percent overnight, with the Nasdaq Composite leading gains, closing up 1.3 percent. The Dow Jones Industrial Average and S&P 500 rose 1.1 and 1.2 percent respectively.