Asian shares are mostly higher and Japan’s Nikkei tops 70,000 before BOJ rate hike

Maria Simulescu

TOKYO (AP) — Asian shares mostly gained and Japan’s benchmark Nikkei 225 briefly topped 70,000 for the first time Tuesday before trimming early gains after the Bank of Japan raised its key interest rate to 1%. The quarter percentage point hike took the benchmark rate to its highest level in three decades. By early afternoon, the Nikkei 225 was up 0.6% at 69,713.05, while South Korea’s Kospi moved further into record territory, gaining 2.1% to 8,721.64. The Shanghai Composite gained less than 0.

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