Stock market today: Asian stocks are mostly higher as Bank of Japan raises benchmark rate

Asian stocks were mostly higher Wednesday following a decision by the Bank of Japan to raise its benchmark interest rate.

Policy decisions were due later in the day from the Federal Reserve and Bank of England.

Japan’s benchmark Nikkei 225 edged 0.1% lower to 38,478.92 after the central bank’s decision to raise the benchmark rate to about 0.25% from 0.1%.

A rate hike by the BoJ was expected to boost the yen, but since the decision was widely anticipated the dollar actually yoyoed against the Japanese currency...