Most of the Asian market indices are trading in red in early deals on Wednesday following the positive cues overnight from Wall Street. Investors now look ahead to the US Federal Reserve's monetary policy decision due later in the day. The central bank is expected to hike its benchmark overnight lending rate for a fourth and final time in 2018, despite US President Donald Trump urging the Fed to refrain from its gradual pace of raising rates. The Bank of Japan and the Bank of England will announce their monetary policy decisions on Thursday. The Japanese market is lower as a weaker yen weighed on exporters' shares. Among the other Asian markets, Singapore, Hong Kong, Taiwan, South Korea, Indonesia and Malaysia are in positive territory. Bucking the trend, Shanghai is lower.
Hang Seng added 41.09 points or 0.16% to 25,855.34, Straits Times gained 14.41points or 0.47% to 3,059.95, Taiwan Weighted increased 43.53 points or 0.45% to 9,762.35, Jakarta Composite jumped 62.84 points or 1.03% to 6,144.71, FTSE Bursa Malaysia KLCI rose 11.22 points or 0.69% to 1,646.53, and KOSPI Shares up by 11.27 points or 0.54% to 2,059.82.
On the flip side, Nikkei 225 declined 150.97 points or 0.71% to 20,964.48, and Shanghai Composite down by 6.47 points or 0.25% to 2,570.18.
