Federal Reserve raises key interest rate to 3.75%-4.00% range, first hike in three years

Asian shares were mixed on Thursday after Wall Street closed lower following the Federal Reserve's interest rate hike decision for the first time in three years. The quarter-point increase brings the Fed's key rate to a target range of 3.75%-4.00% to control U.S. inflation. Japan's Nikkei rose 0.2%, South Korea's Kospi gained 0.9%, while Hong Kong's Hang Seng fell 0.7%. The two-year Treasury yield jumped to 4.72%, and the 10-year yield remained around 5.00%. Oil prices edged higher due to limited flows in the Strait of Hormuz and Saudi Arabia's pipeline closure. Brent crude traded at $105.89.