Asia markets climb ahead of Federal Reserve's rate decision; China loan prime rate data on tap

Asia-Pacific markets rose as investors digested the Bank of Japan’s monetary policy shift and awaited the US Federal Reserve’s interest rate decision. The BOJ raised interest rates for the first time in 17 years and scrapped its yield curve control policy, pushing the Nikkei beyond the 40,000 mark. Investors also focused on China’s release of its loan prime rates. Australia’s S&P/ASX 200 rose 0.17% while South Korea’s Kospi climbed 1.12%. Hong Kong’s Hang Seng index is poised for a stronger open. The US market also rose as the Federal Reserve began its two-day policy meeting.