Asian stocks fell, with a gauge of Chinese shares in Hong Kong entering a bear market, after the Federal Reserve signaled it may raise U.S. interest rates from the middle of next year.

Nikkei 225 14,224.23 -238.29 -1.65%

S&P/ASX 200 5,294 -61.59 -1.15%

Shanghai Composite 1,993.48 -28.26 -1.40%

Newcrest Mining Ltd., Australia’s biggest gold producer, slumped 7.9 percent after bullion dropped the most in three months as the Fed’s announcement curbed demand for havens.

China Mobile Ltd. dropped 3.6 percent to the lowest close in almost five years in Hong Kong after the world’s largest phone company posted profit that missed estimates.

BYD Co., the electric-car maker backed by Warren Buffett, tumbled 14 percent in Hong Kong after projecting lower-than-expected first-quarter profit.