Asian Stocks Edge Higher Amid Hawkish Fed, Elevated Yields

Asian stock markets edged higher on September 17 as investors digested the Federal Reserve's (Fed) decision to raise interest rates for the first time since 2023.

The Fed also released its dot plot, which revealed that officials expect one more rate increase this year, helping to calm the recent bond-market selloff and lift investor sentiment.

Fed Chair Kevin Warsh emphasized the importance of stabilizing consumer prices to grow the US economy, saying 'inflation is too high and has been for too long.'

However, oil-driven inflation risks kept the yield on the benchmark 10-year US government bond near 5.0%, close to its highest level since 2007.