Asian shares rise ahead of US Fed rate hike

Published: September 26, 2018 14:11:53 | Updated: September 28, 2018 13:23:35

File Photo (Collected)

Asian shares rose on Wednesday as traders awaited a third interest rate hike by the US Federal Reserve for this year.

Japan's Nikkei 225 rose less than 0.1 per cent to 23,953.98. Hong Kong's Hang Seng index, which reopened after a holiday, jumped 1.5 per cent to 27,914.26.

The Shanghai Composite Index rallied 1.4 per cent to 2,818.88. Australia's S&P ASX 200 added 0.1 per cent to 6,192.30. Shares fell in Taiwan but rose in Singapore and Indonesia.

Markets were closed in South Korea for a national holiday, according to AP.

US benchmarks finished mixed on Tuesday. The S&P 500 index lost 0.1 per cent to 2,915.56, and the Dow Jones Industrial Average shed 0.3 per cent to 26,492.21.

The Nasdaq composite was 0.2 per cent higher at 8,007.47. The Russell 2000 index of smaller-company stocks gained 0.2 per cent to 1,708.80.

Benchmark US crude dropped 11 cents to $72.17 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 0.3 per cent on Tuesday to close at $72.28.

Brent crude, used to price international oils, fell 4 cents to $81.22 per barrel. It settled at $81.26 after climbing to $81.87 per barrel in London, its highest price since November 2014.

The dollar eased to 112.91 yen from 112.97 yen. The euro weakened to $1.1764 from $1.1766.

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