Asian stocks saw gains on Wednesday following the Bank of Japan's decision to raise its benchmark interest rate. The Federal Reserve and the Bank of England were expected to announce policy decisions later in the day and on Thursday, respectively.
Japan's Nikkei 225 index closed 1.5% higher at 39,101.82 after the BOJ raised the benchmark rate to about 0.25% from 0.1%. The rate hike was anticipated to strengthen the yen, but the dollar fluctuated against the Japanese currency, trading above 153.00 yen at times and falling to 151.60 by late Wednesday afternoon.
