Most Asian markets advanced Thursday as investors cheered the clearer signal from the U.S. Federal Reserve and a rise in oil prices, but Japan shares lost ground as the yen strengthened.
The Nikkei 225 backtracked 38.07 points, or 0.2%, to 16,936.38
In Hong Kong, the Hang Seng index jumped 246.11 points, or 1.2%, to 20,503.81
The Fed left rates unchanged at between 0.25% and 0.5% at its March meeting, but it cut its projection for the number of 2016 rate hikes from four to two, and projected just two hikes in 2017.
The U.S. dollar broadly lost ground after the Fed decision, causing the yen to strengthen. Late in the session, the greenback was fetching 111.83 yen, down from levels around 113.70 yen before the decision. A stronger yen typically weighs on Japan's export-heavy market.
In the currency market, the Australian dollar strengthened against the U.S. dollar, with the pair trading at 0.7634 compared with levels around 0.7421 around the time of the Fed decision.
Major resource producers were higher, with Rio Tinto up 2.4%, Fortescue Metals gaining 9.1% and BHP Billiton 2.4% higher.
Energy plays in the region were higher, with Australia's Santos surging 5%, Woodside Petroleum up 2.2% and Oil Search 2.8% higher, while Japan's Inpex gained 2.4% and Japan Petroleum added 1.5%.
CHINA
The Shanghai CSI 300 index gained 34.17 points, or 1.1%, to 3,124.20
Chinese mainland oil plays were mixed, with Sinopec Shanghai Petrochemical up 1.4%. China Petroleum share prices were unchanged, while PetroChina was lower by 0.1%
In China, the yuan strengthened against the dollar, with the U.S. dollar/yuan pair trading down 0.6% at 6.4954. Before the market open, the People's Bank of China fixed the yuan midpoint rate at 6.4961, compared with Wednesday's fix of 6.5172
In other markets;
In Korea, the Kospi index gathered 13.09 points, or 0.7%, to 1,987.99
In Taiwan, the Taiex Index 35.4 points, or 0.4%, to 8,734.54
In Singapore, the Straits Times Index moved ahead 35.96 points, or 1.3%, to 2,880.17
The NZX 50 in New Zealand recouped 10.49 points, or 0.2%, to 6,573.45
In Australia, the ASX 200 added 49.13 points, or 0.2%, to 5,119.03
