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HONG KONG — <\/span>World shares mostly advanced on Thursday despite Wall Street closed lower<\/a> following the Federal Reserve\u2019s interest rate hike<\/a> decision for the first time in three years.<\/p>\n The quarter of a percentage point increase brings the Fed\u2019s key rate to a target range of 3.75%-4.00%<\/a>, as it attempts to control U.S. inflation that\u2019s been stubbornly above its target.<\/p>\n U.S. futures were higher. The futures for the S&P 500 climbed 0.8%, while that for the Dow Jones Industrial Average gained 0.7%.<\/p>\n In early European trading, Britain’s FTSE 100 rose 0.5% to 10,739.72. France’s CAC 40 advanced 0.3% to 8,163.52, while Germany’s DAX climbed 0.6% to 25,694.84.<\/p>\n In Asia, Japan\u2019s Nikkei 225 index gained 0.3% at 64,136.25. South Korea\u2019s Kospi edged down less than 0.1% to 6,715.41. The Hong Kong Hang Seng fell 0.4% to 24,604.29, while the Shanghai Composite index lost 0.4% to 3,875.60.<\/p>\n Australia\u2019s S&P\/ASX 200 climbed 0.4% to 8,732.40.<\/p>\n Taiwan\u2019s Taiex jumped 1%, while India\u2019s Sensex edged up 0.1%.<\/p>\n On Wednesday, Wall Street\u2019s benchmark S&P 500 dropped 0.5%. The Dow Jones Industrial Average fell 1.2%, and the technology-heavy Nasdaq composite was mostly unchanged.<\/p>\n Market reactions were \u201cpretty much expected since the rate rise was also in line with market expectation,\u201d said Lorraine Tan, director of equity research for Asia at Morningstar on Thursday, adding that the ongoing Iran war is likely to keep pressure on inflation.<\/p>\n Following the Fed\u2019s announcements, the two-year U.S. Treasury yield rose to 4.71% early Thursday compared to around 4.67% late Tuesday. The yield on the 10-year Treasury remained at near 5.00% at an elevated level.<\/p>\n Government bond yields have remained higher<\/a> since the war as the war-driven energy shock adds to inflationary pressure while investors also worry about growing U.S. national debt.<\/p>\n The U.S. dollar fell early Thursday to 155.62 Japanese yen from 156.26 yen. The euro was trading at $1.1474, up from $1.1465.<\/p>\n Oil prices fell. There are still limited oil flows in the Strait of Hormuz<\/a>, the narrow waterway crucial for global oil transport, and as Saudi Arabia\u2019s closure of a key oil pipeline adds to oil supply pressure as it moves to repair the pipeline<\/a>.<\/p>\n Brent crude, the international standard, traded 1.2% lower at $104.60 a barrel early Thursday, but still well above the around $72 per barrel in late February before the war.<\/p>\n<\/div>\n