Asian markets were showing mixed trend in early deals on Wednesday, with investors treading cautiously ahead of the US Federal Reserve's monetary policy decision later in the day. With the Fed widely expected to raise interest rates by a quarter-point, investors are likely to keep a close eye on the accompanying statement as well as outgoing Fed Chair Janet Yellen's press conference for clues about the outlook for future rate hikes. Japan’s Nikkei share average edged lower after tech stocks lost ground as they tracked their weaker US counterparts, offsetting gains in the financial space. Besides, China stocks dipped slightly as financial shares weighed, while the Hong Kong market was firm ahead of a widely expected interest rate hike from the US Federal Reserve. Among the other Asian markets, Singapore, and Indonesia are edging lower. Bucking the trend, Malaysia, South Korea and Taiwan are higher.
Nikkei 225 dropped 128.93 points or 0.56% to 22,737.24, Shanghai Composite dipped 3.98 points or 0.12% to 3,276.83, Jakarta Composite decreased 3.52 points or 0.06% to 6,028.85, and Straits Times was down by 12.98 points or 0.37% to 3,452.56.
On the flip side, FTSE Bursa Malaysia KLCI added 1.59 points or 0.09% to 1,731.16, KOSPI Index gained 14.68 points or 0.6% to 2,475.68, Taiwan Weighted spurt 22.86 points or 0.22% to 10,466.14, and Hang Seng was up by 79.33 points or 0.28% to 28,873.21.