Japans Nikkei 225 Drops nearly 1, Asia Markets Trade Mixed

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Shares in AsiaPacific were mixed on Thursday, as investors watched for market reaction after the U.S. Federal Reserve on Wednesday moved up its timeline for rate hikes. In Japan, the Nikkei 225 fell 0.93 to close at 29,018.33 while the Topix index dipped 0.62 to finish the trading day at 1,963.57. South Koreas Kospi closed 0.42 lower at 3,264.96. Mainland Chinese stocks, on the other hand, closed higher. The Shanghai composite gained 0.21 to 3,525.60 while the Shenzhen component advanced 1.234 to 14,472.37. Hong Kongs Hang Seng index rose about 0.1, as of its final hour of trading.

The SPASX 200 in Australia fell 0.37 to close at 7,359. Australias employment increased by 115,000 people from April to May, the countrys Bureau of Statistics said Thursday. That was far higher than a 30,000 increase in employment expected by analysts in a Reuters poll. MSCIs broadest index of AsiaPacific shares outside Japan fell 0.58.

Trading of Next Digital shares in Hong Kong was halted on Thursday, according to an exchange notice. That came after the Apple Daily, which is published by Next Digital, reported Thursday that five of its directors including the publications editorinchief and CEO were arrested by Hong Kong police. The Hong Kong police had earlier said it arrested five directors of an unnamed company for collusion with a foreign country or with external elements to endanger national security.

The Fed on Wednesday brought forward the time frame on which it will next raise…

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