DHAKA: Asian stock markets fell after the latest minutes from the US Federal Reserve indicated it could raise interest rates as soon as June.

The central bank said it could raise rates next month if conditions were right.

South Korea’s Kospi fell 0.5% to close at 1,946.78 while Australia’s S&P/ASX 200 ended 0.6% lower at 5,323.30, reports the BBC.

In Greater China, Hong Kong’s Hang Seng index fell 0.6% while the Shanghai Composite was flat.

According to analysts, the market believes the probability of a US rate rise in June has now increased to 32%.

“The minutes cited the strength of the labour market, improving economic conditions, better inflation and declining global risks as reasons to begin to normalise sooner than the market expected,” said Alex Furber from CMC Markets.

“The prospect of higher rates and the market’s reliance on monetary policy to prop up asset prices worried investors, which pared early gains on the news.”

BDST: 1353 HRS, MAY 19, 2016
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