Asian stocks mostly higher ahead of Fed’s interest rate decision - NEWS10 ABC

HONG KONG (AP) — Asian shares were mostly higher Wednesday despite losses on Wall Street, as investors await the Federal Reserve’s decision on interest rates, with high expectations of a rate hike. U.S. futures also edged higher. There is widespread expectation that the Fed will hike rates Wednesday for the first time in three years as inflation remains elevated in the U.S. and above the Fed’s target. Japan’s Nikkei 225 gained 0.4% to 63,721.89, despite official data showing that Japan recorded a fourth consecutive month of trade deficit in August. South Korea’s Kospi rose 1.3% to 6,711.62. Hong Kong’s Hang Seng edged up 0.1% to 24,700.62. The Shanghai Composite index climbed 0.6% to 3,886.48.