Asian stock markets settled lower on Thursday after the US Fed kept its key lending rate on hold as expected at its latest policy meeting.

Japan's benchmark index, Nikkei 225 declined 233.50 points or 1.22 percent to settle at 18,914.58. Hong Kong's Hang Seng fell 133.87 points or 0.57 percent to end at 23,184.52.

Singapore's Straits Times declined 23.41 points or 0.76 percent to end at 3,044.08. South Korea's KOSPI declined 9.47 points or 0.46 percent to end at 2,071.01. Taiwan's TAIEX lost 18.98 points or 0.2 percent to end at 9,428.97.

On the other hand, China's benchmark index, Shanghai Composite rose 9.61 points or 0.31 percent to close at 3,159.17.