Asian markets rebound ahead of Fed

By FXStreet FXStreet (Mumbai) – Asian indices staged a comeback on Wednesday tracking positive cues overnight from Wall Street and European markets, which lifts investor sentiment. Markets now shift attention towards this year’s, most awaited event – the FOMC 2-day meeting which commences today.

Asia lifted as Fed meeting begins today

The Japanese benchmark, the Nikkei 225, extended gains from the previous session. However, a stronger yen versus the US dollar weighed on exporters’ stock, keeping a lid on the prices. USD/JPY now trades at 120.27, recording a -0.12% loss on the day while the Nikkei gains nearly 1% to 18,201 points.

The Chinese indices posed a tepid recovery after the recent weakness, with the Shanghai Composite advancing 0.62% at 3,023.75 points while the Hong Kong’s benchmark Hang Seng index is up over 1% at 21,696.

Among other Asian indices, the benchmark Australian S&P/ASX 200 index jumps 1.34% at 5,086, with miners and banks leading the charge. While Korea’s benchmark Kospi index, leads the Asian markets higher, gaining 1.81% to 1,972 points in Seoul.
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Source:: FX Street