Not a good finish to the trading week here in Asia with falls almost across the board in response to a hawkish Fed overnight. Mainland Chinese markets were the exception as domestic fears of quicker and higher rate rises by the RBA unsettled Australian stocks although the Australian dollar sold off sharply as well. Oil markets are trying to stabilise again with Brent crude still hovering just below the $110USD per barrel level while gold is also struggling following the recent profit taking selloff, somewhat stable at the $1950USD per ounce level but daily momentum is about to turn negative:
Mainland Chinese share markets are stabilising going into the close with the Shanghai Composite steady, up 0.2% at 3087 points while the Hang Seng Index has lost more ground, down 0.4% to 20607 points. Japanese stock markets had a big selloff with the Nikkei 225 closing 1.6% lower at 27105 points while the USDJPY pair continues to settle around the 128 handle as price action hovers at trailing short term ATR support:
Australian stocks were the worst performers in the region with the ASX200 losing over 1.5% to close the week out at 7473 points. Meanwhile the Australian dollar has been swiftly sold off following it failure to launch mid week as traders re-assess the RBA response to a more aggressive Fed, now breaking down to a new weekly and monthly low just above the 73 handle: 
Eurostoxx and Wall Street futures are barely holding on with the former playing catchup to the latter as the S&P500 four hourly chart shows price anchored at the weekly lows around the 4400 point level, having been swamped overnight:
The economic calendar concludes the trading week with some very important PMI prints in both Europe and the US.