Asia markets are mixed after Fed meeting minutes signal rates may stay higher for longer

This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets were mixed after minutes of the last U.S. Federal Reserve meeting revealed Fed officials' concerns over sticky inflation, with members seemingly getting cold feet on possible interest rate cuts.

South Korea's central bank held its benchmark policy rate at 3.5% as estimated in a Reuters poll. The BOK is expected to cut by 50 basis points in the fourth quarter, according to a Reuters poll from May 21.

Singapore's final first-quarter gross domestic figures remained unchanged from its advance estimate of 2.7%.

Investors also assessed flash business activity data from Australia and Japan.

Japan's Nikkei 225 climbed 0.6%, while the broad-based Topix gained 0.2%.

In contrast, South Korea's Kospi slid 0.33%, while the small-cap Kosdaq reversed losses and rose 0.22% after the BOK's decision.

The Australian S&P/ASX 200 lost about 0.8%.

Hong Kong's Hang Seng index shed 1.54%, while the CSI 300 index dropped 0.38%.

Overnight in the U.S., the Dow Jones Industrial Average saw its worst day in May and declined 0.51%, while the S&P 500 lost 0.27% and the Nasdaq Composite dropped 0.18%.

Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease.

A notable bright spot in the U.S. however, was artificial intelligence darling Nvidia, which saw its shares cross the $1,000 mark for the first time in extended trading on Wednesday, after the chipmaker reported fiscal first-quarter results that topped analyst estimates.

— CNBC's Brian Evans and Jesse Pound contributed to this report.

The yield on 10-year Japanese government bonds rose to 1.012%, the highest