Economic security

Record high for Korean stocks as other Asian markets slip

Asian stocks tilted lower, with Australian stocks continuing to lag behind, as investors were largely unmoved by an as-expected policy announcement from the Federal Reserve.

Korea’s Kospi was a lone standout on the upside. The equities index topped 2011’s record high to continue a strong recent run as foreign money flows into the market. The Kospi SEU, +0.97%  , up 0.6% Thursday, has risen 11 of the past 14 sessions.

However, bearish sentiment around Australian banks persists as earnings season rolls on. Though National Australia Bank NAB, -0.54%   is up slightly following its fiscal first-half report, peers continued to decline after Tuesday’s downbeat results from Australia and New Zealand Banking ANZ, -1.66%  amid competitive pressures cast a pall. It is down for a third session, dropping 1.5%.