SINGAPORE — Shares in Asia-Pacific rose in Thursday morning trade following overnight gains on Wall Street, while the U.S. Federal ReserveIt was announced first rate hike in more than three years.

It Nikkei 225Japan’s morning trade saw a jump of 3.54% as shares of Fast RetailingThe rise was 6.71% SoftBank GroupIt jumped 8.79%. Topix index rose 2.53%

South Korea KospiGained 1.87% In Australia, it was 1.87%. S&P/ASX 200Advance 1.2%

The MSCI’s largest index of Asia-Pacific shares, outside Japan, traded at 0.84% more.

The U.S. Federal Reserve approved Wednesday a 0.25 percentage points rate rise, marking the first increment since Dec. 2018.

The U.S. central banks also indicated an aggressive approach, with rates rising at six of the remaining meetings in the year.

Investors will also continue to follow developments around the area. Covid situation in ChinaAs well as the ongoing Russia-Ukraine war.

Overnight on Wall Street, the Dow Jones Industrial Average climbed 518.76 points, or 1.55%, to 34,063.10 while the S&P 500 advanced 2.24% to 4,357.86. Technology-oriented Nasdaq composite surged by 3.77%, to 13,436.55.

It U.S. dollar indexThe indices that track the greenback in relation to a basket including its peers were at 98.487, after falling from 99.

It Japanese yenIt traded at 118.87 USD, weaker against the greenback than earlier this week’s levels of below 118. The Australian dollarChanged hands at $0.7288 and held on to gains from yesterday’s jump below $0.72.

— CNBC’s Jeff Cox contributed to this report.