Asian stocks mixed after Wall St rally, eyes on US central bank
HONG KONG (AFP) - Asian markets were mixed on Wednesday following a strong lead from Wall Street, with investors biding their time as they await the end of a crucial Federal Reserve policy meeting.
With few other trading cues, the main focus is on the Fed meeting, which is expected to see policymakers begin reeling in the bank's massive stimulus programme.
Tokyo rose 1.35 per cent, or 193.69 points, to 14,505.36, while Shanghai added 0.29 per cent, or 6.29 points, to 2,191.85. However, Sydney ended 0.25 per cent lower, shedding 13.1 points, to 5,238.1 while Hong Kong eased 0.27 per cent, or 63.07 points, to 23,117.45. Seoul was closed for a public holiday.
While economists tip the Fed to announce a taper of its US$85 billion (S$107 billion) a month bond-buying scheme - known as quantitative easing (QE) - the big question is how much it will be cut by.