Dec 15 (Reuters) - Australian shares lost ground on Thursday after the U.S. Federal Reserve raised interest rates by an expected 50 basis points but projected higher rates for a longer period.

The Fed projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023, as well as a rise in unemployment and a near-stalling of economic growth.

The S&P/ASX 200 index fell 0.4% to 7,224.00 by 2345 GMT after gaining 0.7% on Wednesday. Among global markets, Japan's Nikkei was down 0.6%, while S&P 500 E-minis futures were up 0.14%.

Mining stocks fell 1.1% and were the biggest drag on the Australian benchmark index. Sector heavyweights BHP Group and Rio Tinto fell 0.7% and 0.3%, respectively.

Gold stocks retreated 0.8% after bullion prices edged lower overnight.

Banking, healthcare and technology stocks fell between 0.2% and 0.6%. Energy stocks tracked oil prices higher and were last up 0.2%.

Woolworths Group rose 1.1% after the supermarket chain said it would acquire a 55% stake in pet food and services retailer Petspiration Group for A$586 million ($401.70 million) in cash.

New Zealand's benchmark S&P/NZX 50 index fell 0.1% to 11,574.97.

The country's gross domestic product rose 2.0% in the September quarter, more than double forecasts for a 0.9% gain.

While the growth was broad-based with tourism, construction and transport leading the way, signs of an impending slowdown caused by high interest rates and falling housing prices are starting to appear. (Reporting by Himanshi Akhand in Bengaluru; Editing by Subhranshu Sahu)