Asian Market Update : Epic Research Malaysia

Asian stock markets jumped on Thursday as investors chose to take an historic hike in US interest rates as a mark of confidence in the world's largest economy, lifting the dollar and piling on the pain for oil prices.

China also allowed its currency slip for a 10th straight session to hit its lowest since June 2011. The steady decline in turn puts pressure on other Asian currencies to depreciate to stay competitive.

The Federal Reserve's 25-basis-point increase was almost a decade in the making and easily one of the most telegraphed in history. So there was some relief that, after months of waiting and several false starts, the move was finally done and dusted. "The Fed will be absolutely delighted with the lack of volatility across all asset classes," said Alan Ruskin, global head of forex at Deutsche.

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