Federal Reserve raises US interest rates for first time since 2023, lifting Asian stocks

On Friday, Asian shares mostly rose, recovering from earlier losses after the US Federal Reserve's first interest rate hike since 2023. The S&P 500 jumped 1.1% on Thursday, its best day in six weeks, as oil prices declined from nearly $110 to around $104 per barrel. This eased inflation concerns and lowered bond yields, with the 10-year Treasury falling to 4.93%. South Korea's Kospi led gains, rising 2.1%, while other regional markets also advanced. The Bank of Japan is expected to raise its policy rate to 1.25% on Friday, and the Bank of England left rates unchanged.