BANGKOK (AP) — Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S.

New Zealand's share benchmark fell 0.9% after the Reserve Bank of New Zealand raised its benchmark rate by three-quarters of a point to 4.25%, striving to rein in inflation that is now at 7.2%.

It’s the first time the bank has raised rates by more than a half-point since introducing the Official Cash Rate in 1999. The new rate is the highest in New Zealand since early 2009.

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