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The Federal Reserve on Wednesday announced its widely expected decision to raise interest rates by another 75 basis points. Citing efforts to achieve maximum employment and inflation at the rate of 2 percent over the longer run, the Fed announced its decision to raise the target range for the federal funds rate to 3.75 to 4 percent.

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Germany's exports dropped unexpectedly and imports logged its first time fall in eight months in September, official data revealed on Wednesday. Exports dropped 0.5 percent month-on-month, Destatis reported. This was followed by a 2.9 percent rise in August. Shipments were expected to gain 0.1 percent.

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The total number of building permits issued in Australia was down a seasonally adjusted 5.8 percent on month in September, the Australian Bureau of Statistics said on Wednesday - coming in at 16,455.

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Construction spending in the U.S. unexpectedly showed a modest increase in the month of October, according to a report released by the Commerce Department on Tuesday. The report said construction spending inched up by 0.2 percent to an annual rate of $1.811 trillion in September after falling by 0.6 percent to a revised rate of $1.807 trillion in August.

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The manufacturing sector in China fell into contraction territory in October, the National Statistics Bureau said on Monday with a manufacturing PMI score of 49.2.

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