Investing.com - Asian stock markets were mixed on Wednesday, as investors looked ahead to the outcome of the Federal Reserve’s policy meeting later in the day.
Shares in Japan outperformed the region as traders continued to eye movements in the yen and in the Japanese government bond market.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.7%, Australia’s ASX/200 Index ended 1% higher, while Japan’s Nikkei 225 Index ended up 1.8%.
Market players remained cautious amid speculation over whether the Fed will begin to scale back its easing program after Chairman Ben Bernanke said last month the bank could begin to taper asset purchases if the economy continued to improve.
Attention will focus on Bernanke’s press conference following the meeting, which investors are hoping will provide further clues on how long the central bank will maintain its USD85-billion-a-month in bond purchases.
In Tokyo, the Nikkei rose sharply to hit a one-week high as exporters led gains.
Shares in automakers Toyota and Honda climbed 1.2% and 2% respectively, while camera makers Canon and Nikon added 2.4% and 1.7% apiece.
Japanese megabanks were also higher, with shares in the nation’s largest lender Mitsubishi UFJ Financial Group climbing 2.4%, while Sumitomo Mitsui Financial Group and Mizuho Financial Group tacked on 5.2% and 2.1% respectively.
Meanwhile, in Australia, the benchmark ASX/200 Index ended higher as global miners led gains.
Rio Tinto and BHP Billiton rose 1.5% and 1% respectively, while Fortescue Metals Group saw shares climb 1.8%.
Elsewhere, in Hong Kong, the Hang Seng edged lower as property developers extended losses from the previous session.
Tuesday’s sell-off was sparked after data showed that house prices in China increased more-than-expected last month, dampening hopes for any easing measures in the near-term.
China Overseas Land & Investment lost 1%, Gemdale Properties declined 1.8%, while New World Development slumped 3%.
Looking ahead, European stock market futures pointed to a mildly higher open, as investors positioned ahead of the outcome of the Federal Reserve’s keenly anticipated policy meeting later in the session.
The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.2%, London’s FTSE 100 futures indicated a gain of 0.2%, while Germany's DAX futures pointed to an increase of 0.4% at the open.
Shares in Japan outperformed the region as traders continued to eye movements in the yen and in the Japanese government bond market.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.7%, Australia’s ASX/200 Index ended 1% higher, while Japan’s Nikkei 225 Index ended up 1.8%.
Market players remained cautious amid speculation over whether the Fed will begin to scale back its easing program after Chairman Ben Bernanke said last month the bank could begin to taper asset purchases if the economy continued to improve.
Attention will focus on Bernanke’s press conference following the meeting, which investors are hoping will provide further clues on how long the central bank will maintain its USD85-billion-a-month in bond purchases.
In Tokyo, the Nikkei rose sharply to hit a one-week high as exporters led gains.
Shares in automakers Toyota and Honda climbed 1.2% and 2% respectively, while camera makers Canon and Nikon added 2.4% and 1.7% apiece.
Japanese megabanks were also higher, with shares in the nation’s largest lender Mitsubishi UFJ Financial Group climbing 2.4%, while Sumitomo Mitsui Financial Group and Mizuho Financial Group tacked on 5.2% and 2.1% respectively.
Meanwhile, in Australia, the benchmark ASX/200 Index ended higher as global miners led gains.
Rio Tinto and BHP Billiton rose 1.5% and 1% respectively, while Fortescue Metals Group saw shares climb 1.8%.
Elsewhere, in Hong Kong, the Hang Seng edged lower as property developers extended losses from the previous session.
Tuesday’s sell-off was sparked after data showed that house prices in China increased more-than-expected last month, dampening hopes for any easing measures in the near-term.
China Overseas Land & Investment lost 1%, Gemdale Properties declined 1.8%, while New World Development slumped 3%.
Looking ahead, European stock market futures pointed to a mildly higher open, as investors positioned ahead of the outcome of the Federal Reserve’s keenly anticipated policy meeting later in the session.
The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.2%, London’s FTSE 100 futures indicated a gain of 0.2%, while Germany's DAX futures pointed to an increase of 0.4% at the open.