Tokyo — The dollar shone while Asian shares slipped on Thursday, after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year.MSCI’s broadest dollar-denominated index of Asia-Pacific shares outside Japan was down 0.4%, shrugging off slight gains on Wall Street.South Korea’s Kospi was down 0.2%, while Australia shed 0.9%. Hong Kong’s Hang Seng posted slim gains.Japan’s Nikkei gained 0.8% as a rise in US bond yields lifted financial shares, while the yen’s fall against the dollar after the Fed’s decision helped exporters.The Bank of Japan as widely expected left its policy settings unchanged, with markets awaiting a news conference by its governor later in the day.US share prices recovered quickly from initial losses following the Fed’s announcement, with the S&P 500 ending slightly higher, adding to a string of closing records."While a rate hike is negative, the fact that the Fed’s confidence in the economy is str...
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