Investors scorn Fed decision as Asia stocks follow US lower

Asian shares tracked losses on Wall Street a day earlier, with the main indices sliding in the morning hours of trade on Friday.

The Federal Open Market Committee (FOMC) decided to keep monetary policy settings unchanged on Thursday, with global financial developments deterring the bank from what would have been its first rate hike in more than nine years.

Japan's benchmark Nikkei 225 index plunged 1.57% to 18,143.29 points within the first hour of trade, while Tokyo's broader Topix gauge shed 1.71% to trade at 1,466.46 points.

Korea's benchmark Kospi index crept up 0.05% to 1,977.47 points on Friday morning in Seoul, Hong Kong's benchmark Hang Seng index advanced 0.19% to 21,897.12 points, and mainland China's benchmark Shanghai Composite grew 0.25% to 3,093.66 points.

The benchmark Australian S&P/ASX 200 index fell 0.21% to 5,136.00 points in Sydney, as oil stocks and banks saw sizeable losses.

New Zealand's benchmark S&P/NZX 50 index rose 0.08% to 5,698.67 points this afternoon in Wellington.