New Zealand raised its cash rate by another 50 basis points to 3%, the latest in a series of interest rate hikes in an effort to curb inflation.
Elsewhere, Japan stocks surged following better-than-expected export figures and Australian wages rose.
The Shanghai Composite closed higher by 0.45% at 3,292.53 and the Shenzhen Component also finished positive by 1.01% at 12,595.46. Hong Kong's Hang Seng index was 0.46% higher.
Chinese food delivery giant Meituan shares have risen 3.34%. The move marks a rebound from the 9% plunge Tuesday, which followed a report that Tencent is planning to sell the majority of its $24 billion stake in the company.
Ahead of its second quarter earnings release, Tencent shares were flat.
Japan's Nikkei 225 increased 1.23% to 28,868.91 while the Topix index added 1.26% to 1,981.96 after the country reported better-than-expected exports growth for July compared with a year ago. Its exports growth of 19% beat the 18.2% expected by analysts in a Refinitiv poll, driven by a strong recovery in car exports.
In South Korea, the Kospi reversed after a positive start, falling 0.67% likely due to some profit taking among the major stocks. Among the big losses at market close were Hyundai Motor at 3.8%, Kia at 4.02% and Seah Steel Holdings at 2.75%.
The S&P/ASX 200 in Australia also moved up 0.31% to close at 7,105.4. The biggest winners were bank stocks, coal producer Whitehaven Coal and media corporation Seven West Media.
MSCI's broadest index of Asia-Pacific shares outside Japan were 0.43% higher.