Asian equity markets ended mostly higher on Wednesday even as underlying sentiment remained cautious ahead of the Fed decision on interest rates due tonight and the Bank of Japan's policy decision slated for Thursday. The Federal Reserve is widely expected to leave interest rates unchanged, but investors will keep a close eye on the accompanying statement and Fed Chair Janet Yellen's subsequent press conference for clues on the health of the world's largest economy and the trajectory of rate hikes. On the other hand, the Bank of Japan is likely to weigh the potential impact of Brexit on the broader economy before announcing further easing on Thursday. Also, investors ignored the MSCI decision delaying the inclusion of mainland-listed Chinese A-shares in its emerging market index for another year, citing concerns about market access and capital mobility. Chinese shares led regional gains after China's securities market regulator said a global stock index without A-shares trading in Shenzhen and Shanghai is incomplete and the MSCI's decision won't impact the reform and opening process of the country's capital markets. Japanese shares rose on short-covering as the yen slightly weakened against its rivals ahead of monetary-policy decisions by the Federal Reserve and the Bank of Japan.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,887.21 | 45.02 | 1.58 |
Hang Seng | 20,467.52 | 79.99 | 0.39 |
Jakarta Composite | 4,814.82 | -6.77 | -0.14 |
KLSE Composite | 1,627.96 | 1.85 | 0.11 |
Nikkei 225 | 15,919.58 | 60.58 | 0.38 |
Straits Times | 2,774.25 | 5.92 | 0.21 |
KOSPI Composite | 1,968.83 | -3.20 | -0.16 |
Taiwan Weighted | 8,606.37 | 30.25 | 0.35 |
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