Asian equity benchmarks are trading up in the early deals on Wednesday, tracking the overnight rally on Wall Street and in European markets as well as the rebound in crude oil prices. Investors are waiting for the outcome of the US Federal Reserve's two-day policy meeting later in the day. The Fed is widely expected to raise interest rates for the first time in almost a decade. Meanwhile, Japanese stocks rebounded as investor sentiment was boosted by the overnight rally on Wall Street and a second straight day of rising oil prices. Additionally, a weaker yen bolstered exporters' stocks.
Nikkei 225 surged 483.82 points or 2.61% to 19,049.72, FTSE Bursa Malaysia KLCI added 10.84 points or 0.67% to 1,633.68, Hang Seng gained 474.72 points or 2.23% to 21,749.09, Taiwan Weighted increased 118.49 points or 1.47% to 8,191.84, KOSPI Index spurt 40.89 points or 2.12% to 1,973.86, Shanghai Composite
strengthen 24.86 points or 0.71% to 3,535.21, Jakarta Composite jumped 41.76 points or 0.95% to 4,450.93, and Straits Times was up by 19.27 points or 0.68% to 2,834.79.