Asian markets were mixed Thursday after the Federal Reserve raised its key interest rate by a quarter percentage point, bringing the target range to 3.75%-4.00% in its first hike in three years. The move followed stubbornly elevated U.S. inflation and came as markets expected. U.S. stock futures rose after Wall Street declined, while the two-year Treasury yield climbed to 4.72% from about 4.67% late Tuesday and the 10-year yield held near 5.00%. Morningstar's Lorraine Tan said the reaction was broadly expected but that the ongoing Iran war was likely to keep pressure on inflation. Higher bond yields have also reflected energy-related inflation and concerns about rising U.S. national debt. Oil prices edged higher as flows through the Strait of Hormuz remained limited and Saudi Arabia closed a key pipeline for repairs. Brent crude rose 0.1% to $105.89.