Asian stock markets were higher on Wednesday, as investors awaited the outcome of the monetary policy meeting of the Federal Reserve later in the session amid expectations the central bank will maintain its bond purchase program USD85 billion million per month.
During late Asian trade, the Hang Seng in Hong Kong rose 1.25 %, the index ended ASX/200 of 0.28 % from Australia, while Japan’s Nikkei 225 closed up 1.23 %.
The Bank of the Fed is scheduled to conclude its two-day policy meeting later on Wednesday , with market analysts expect the central bank to maintain its asset purchase program USD85 million a month in order to track safeguard the faltering economic recovery .
Program Fed stimulus is seen by many investors as a key factor in increasing the overall share price.
In Tokyo, the Nikkei rose to a maximum of one week as the yen weakened against the U.S. dollar Increases the feeling.
USD / JPY rose to hit a session high of 98.27, passing the previous low of 97.45 sessions. Weaker yen increases the value of overseas income at Japanese companies when repatriated, increasing export earnings outlook.
Index heavyweight Softbank saw shares climb 2.05% after the Nikkei reported the company was likely to post a record operating profit for the first half of the fiscal year.
Brokerage firms and Daiwa Securities Nomura Holdings saw shares climb 1.35% and 3.8 %, respectively, after both companies reported earnings reports welcome.
On the negative side, industrial robot maker Fanuc down 2.35% after announcing a decline in revenue and a more lower than expected for the entire year.
Meanwhile, in Hong Kong , the Hang Seng rose to its highest level since October 23 amid speculation policy makers will introduce new stimulus measures to support the economy.
Sinopec Oil Company saw shares advance 2.3% after reporting a 20% increase in its net profit for the third quarter.
Petro China shares rose 0.1 % after reporting a 19% increase in net profit during the same period.
Chinese lenders were also higher ahead of its quarterly earnings. Industrial and Commercial Bank of China added 2%, while the Agricultural Bank of China rose 3.3 %.
Elsewhere, in Australia, the re ASX/200 Index – approached a maximum of five years, amid speculation the Federal Reserve will hold off stimulus scaling monetary problem.
Looking ahead, European stock futures pointed to a slightly higher opening.
The EURO STOXX 50 futures pointed to a gain of 0.1 % in the CAC 40 French Open futures were little changed, the FTSE 100 futures indicated a rise of London 0.25 %, while futures German DAX futures pointed to a gain of 0.1 % at the opening.