Asian markets were mixed Thursday after Wall Street ended lower following the US Federal Reserve's decision to raise interest rates for the first time in three years.

US stock futures were higher in early trading.

The Fed raised its key interest rate by a quarter percentage point to a target range of 3.75%-4.00% as it seeks to bring US inflation, which has remained above its target, under control.

Japan's Nikkei 225 rose 0.2% to 64,067.53, while South Korea's Kospi gained 0.9% to 6,778.49. Hong Kong's Hang Seng Index fell 0.7% to 24,533.46, and the Shanghai Composite declined 0.4% to 3,877.46.

Australia's S&P/ASX 200 advanced 0.3% to 8,718.20.

Taiwan's Taiex climbed 1.3%, while India's Sensex edged up 0.3%.

On Wednesday, the S&P 500 fell 0.5%, while the Dow Jones Industrial Average dropped 1.2%. The technology-heavy Nasdaq Composite was little changed.

The market reaction was largely in line with expectations because the Fed's rate increase had been widely anticipated, said Lorraine Tan, director of equity research for Asia at Morningstar.

However, she said the ongoing war in Iran could continue to put pressure on inflation.

After the Fed's announcement, the yield on the two-year US Treasury note rose to 4.72%, compared with about 4.67% late Tuesday. The yield on the 10-year Treasury remained elevated at around 5.00%.

US government bond yields have stayed higher since the war began, as an energy shock linked to the conflict has increased inflationary pressure. Investors are also concerned about rising US government debt.

The US dollar weakened early Thursday to 156.04 Japanese yen from 156.26 yen. The euro rose slightly to $1.1467 from $1.1465.

Oil prices edged higher as oil flows through the Strait of Hormuz remained limited. The narrow waterway is a key route for global oil shipments.

Oil supply pressures have also increased after Saudi Arabia shut down a major oil pipeline while repairs are carried out.

Brent crude, the international benchmark, was up 0.1% at $105.89 early Thursday.