Asian shares slip

HONGKONG -- Asian stock benchmarks were mostly lower yesterday as investors digested an upbeat Fed assessment of the US economy that raised the prospect of further rate hikes, while anticipating more stimulus from Japan.

Japan's benchmark Nikkei 225 index lost 1.1 percent to 16,476.84 and South Korea's Kospi slipped 0.2 percent to 2,020.86. HongKong's Hang Seng dipped 0.3 percent to 22,154.82 while the Shanghai Composite Index in mainland China slipped 0.2 percent to 2,985.66. Australia's S&P/ASX 200 climbed 0.3 percent to 5,558.40. Benchmarks in New Zealand, Taiwan and Thailand edged higher while in Indonesia and the Philippines they fell.

Benchmark US crude rose 6 cents to $41.98 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1, or roughly 2.3 percent, to close at $41.92 a barrel on Wednesday. Brent crude, used to price international oils, gained 5 cents to $43.96 a barrel in London.

The dollar weakened to 104.66 yen from 105.15 yen. The euro strengthened to $1.1087 from $1.1064. AP