Asian stock markets were higher Wednesday after Wall Street rose ahead of what traders hope will be the last Federal Reserve interest rate hike for some time.
Wall Street was higher as investors sort through a wave of corporate earnings ahead of Wednesday's crucial Federal Reserve interest rate decision.
Japan's Nikkei index was largely unchanged on Tuesday, as the market showed little direction ahead of the outcome of the U.S. Federal Reserve's policy meeting and as corporate results showed mixed trends. "Investors are cautions ahead of the FOMC (Federal Open Market Committee) and U.S. jobs data," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. U.S. economic data scheduled to be released this week includes readings on consumer confidence, construction spending, and unemployment, and those are expected to factor into whether the Fed will conclude its rate hikes in March.