Asian stock markets rose Thursday after the Federal Reserve said the U.S. economy is moving toward lower inflation, but more interest rate hikes are planned, the Associated Press (AP) reported. Shanghai, Tokyo, Hong Kong and Sydney stock markets were higher and oil prices increased. The Shanghai Composite Index gained 0.3% to 3,284.50 and the Nikkei 225 in Tokyo added 0.1% to 27,374.60. The Hang Seng in Hong Kong advanced 0.5% to 22,188.20. The Kospi in Seoul was 0.7% higher, at 2,466.03, and Sydney's S&P-ASX 200 rose 0.2% to 7,514.20. India's Sensex opened down 0.3% at 59,544.52. New Zealand, Bangkok and Jakarta advanced while Singapore and Kuala Lumpur declined. In energy markets, benchmark U.S. crude rose 66 cents to $77.07 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.46 on Wednesday to $76.41. Brent crude, the price benchmark for international oil trading, added 59 cents to reach $83.43 per barrel in London. It lost $2.62 the previous session, reaching $82.84 a barrel. The dollar fell to 128.57 yen from Wednesday's 128.77 yen. The euro rose to $1.1018 from $1.0979.
