Tokyo — Asian shares eased on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening, while concern about US-China trade frictions kept investors on edge. Chinese retail sales and urban investment data were surprisingly weak, pouring cold water on investors’ risk appetite and adding to uncertainty over the world’s second-largest economy after its central bank unexpectedly left interest rates on hold. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.5%. South Korea’s Kospi was off 1.2%, while Hong Kong’s Hang Seng dipped 0.2%. Japan’s Nikkei shed 0.4%. The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75% to 2%, as expected, as a result of strong US economic growth. Fed policy makers’ rates projections pointed to two additional hikes by the end of this year compared with one previously, based on board members’ median forecast. "The Fed ...
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