GLOBAL markets have mostly reacted positively to the US Federal Reserve’s interest rate hike, given that it was well within expectations.

But market watchers are remaining cautious amid concerns of a global economic slowdown, and highlighted China as a bright spot for upcoming growth.

With the Fed raising interest rates by 75 basis points on Wednesday (Jul 27), Fed chair Jerome Powell said that the pace of increases may slow down. US stocks rallied on Wednesday on the news.