Fed rate hike boosts Asia Pacific markets but oil price continues to fall

The first US rate rise since 2006 has stoked confidence in world markets despite concerns about the longer term impact of a strong US dollar

Governments and central bankers across Asia Pacific have breathed a collective sigh of relief after stock markets rallied rather than recoiled at the US Federal Reserve's decision to raise interest rates.

Related: Federal Reserve ends Hamlet-like indecision over interest rates