(MENAFN– ecpulse)
Asian stocks were mixed on Wednesday as inventors await the conclusion of the U.S. Federal Reserve`s monetary policy meeting later in the day. The central bank is expected to reduce its massive stimulus program by $10 billion a month while keeping rates close to zero.
- MSCI Asia Pacific Index rose 0.4% to 138.67 as of 14:25 in Hong Kong
(South Korean market are closed until Monday for holiday leaving trading volumes thinner-than-usual.)
Japan`s stocks closed at their highest levels since July 25 due to the weaker yen that gave support to exporters. Industrial manufacturers led the gains as the dollar/yen pair traded above 99.00.
- Nikkei 225 closed 1.35% higher at 14505.36
- Topix closed 0.97% higher at 1193.07
The Chinese enchmark index erased earlier losses due to rising optimism over Shanghai`s planned free trade zone. Real-estate developers were in focus after new home prices in 70 major cities rose 8.3%.
- China’s CSI 300 Index closed 0.21% higher at 2432.51
- Hong Kong’s Hang Seng closed 0.27% lower at 23117.45
In Australia, the benchmark index traded in a narrow range as weak commodity prices weighed on resource stocks. Meanwhile in India, stocks reversed the morning losses as the rupee traded higher at 63.1 per dollar.
- The S&P/ASX 200 closed 0.25% lower at 5238.14
- S&P BSE SENSEX 30 rose 0.29% to 19861.75
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