Shares in the Asian region were mostly seen trading higher on Wednesday, ahead of the Federal Reserve’s conclusion on its monthly asset-purchasing program. The Federal Reserve began its two-day policy meeting on Tuesday and expected to end today, as market analysts predicts the central bank would begin to scale-back on its $85 billion monthly stimulus program following the meeting conclusion.
Earlier this year, the Chairman of the Federal Reserve Ben Bernanke said the US economy is recovering, especially in the job market and with the recent string of positive data.
The Japanese benchmark Nikkei 225 index came in 1.62% to 15,522.56 points at the time of writing, while the Tokyo’s broader Topix index rose 1.05% higher to 1,245.14 points.
In China, Hong Kong’s benchmark Hang Seng index rose 0.61% higher to 23,211 points at the time of writing, at the same time the mainland benchmark Shanghai Composite dropped 0.03% to 2,151.63 points.
Australia’s benchmark S&P ASX 200 index edged 0.12% lower at 5,097.00 points as of 5:05am GMT.
The Governor of the Reserve Bank of Australia (RBA) Glenn Stevens said the bank did not rule out the option of lowering interest rates even further, individuals and firms have to take advantage of the situation.
“They have to be willing to take a risk – on a new project, a new product, a new market, a new worker. Monetary policy can’t force spending to occur,” Stevens said in the statement.
The Aussie rose after the statement release, jumping to $0.8928 against the US dollar.
In New Zealand, the NZX 50 index dropped 1.10% as of 5:05am GMT to 4,675.88 points. Economic indicators released on Wednesday, revealed the third-quarter current account data rose to its highest deficit since 2008.
The business outlook survey from ANZ, showed confidence climbing to the highest level in almost 15 years, rising to 64.1 higher in December from 60.5 in the previous month.
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