Australia, South Korea stocks dip

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Australia, South Korea stocks dip


An electronic board displays stock information at the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Tuesday, Feb. 6, 2018.

Brendon Thorne | Bloomberg via Getty Images

Asia-Pacific shares slipped on Friday as investors continue to weigh the Federal Reserve’s aggressive stance.

In Australia, the S&P/ASX 200 opened slightly higher but gave up gains to fall 1.16% on its return to trade after a holiday on Thursday.

South Korea’s Kospi dipped 0.68% and the Kosdaq declined 0.74%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.18%.

Japan markets were closed for a holiday Friday.

Elsewhere in Asia, Singapore and Malaysia will report August’s consumer price index data.

On Wall Street overnight, stocks fell for a third consecutive day over recession fears following the Fed’s latest 75-basis-point rate hike.

The S&P 500 was 0.8% lower at 3,757.99, while the Nasdaq Composite lost 1.4% to 11,066.81. The Dow Jones Industrial Average dipped 107.10 points, or 0.3%, to 30,076.68.

— CNBC’s Samantha Subin and Sarah Min contributed to this report.

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