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Kospi Index vs Taiwan Index: Which Asian stock market remained unimpacted after US Fed FOMC rate hike decision?
The Kospi Index declined 0.04% while TAIEX gained 0.96% on September 17, following the US Fed's rate hike. Investor sentiment in Korea was affected by foreign selling, while Taiwan's TAIEX was driven higher by key tech company performances amidst strong global demand.
Kospi Index vs Taiwan Index: South Korea's Korea Composite Stock Price Index (Kospi) and Taiwan's TSEC Weighted Index, also known as TAIEX, showcased mixed performance after the US Federal Reserve rate hike. Kospi Index ended marginally lower, but TAIEX gained nearly a percentage on Thursday, September 17.
The Federal Open Market Committee (FOMC) voted unanimously to raise the benchmark federal funds by a quarter percentage point to a range of 3.75% to 4%. The US Fed rate hike, in three years, was in line with the market expectations. Key rationale behind the rate hike decision were to tackle sticky inflation which is intensifying due to global energy supply crisis because of the West Asia crisis.
