Asian stocks rise ahead of Fed meeting

Published: January 30, 2019 12:15:57 | Updated: February 01, 2019 11:35:45

File Photo (Collected)

Asian stocks rose Wednesday as traders awaited a Federal Reserve policy meeting and US-China talks, though Japan's benchmark declined.

Japan's Nikkei 225 index retreated 0.5 per cent to 20,555.13 while South Korea's Kospi climbed 0.6 per cent to 2,197.50. Hong Kong's Hang Seng index gained 0.3 at 27,607.67.

The Shanghai Composite index edged 0.1 per cent to 2,596.62. Australia's S&P ASX 200 also added 0.1 per cent to 5,877.70. Stocks rose in Southeast Asia and Taiwan, reports AP.

US indexes reflected a mixed draw of corporate earnings on Tuesday. The S&P 500 index retreated 0.1 per cent to 2,640.00 while the Dow Jones Industrial Average was up 0.2 per cent at 24,579.96.

The Nasdaq composite, which has many technology stocks, shed 0.8 per cent to 7,028.29. The Russell 2000 index lost 0.1 per cent to 1,471.45.

Benchmark US crude rose 15 cents to $53.46 per barrel in electronic trading on the New York Mercantile Exchange. It gained $1.32 to settle at $53.31 per barrel on Tuesday.

Brent crude, used to price international oils, picked up 21 cents to $61.41 per barrel. The contract added $1.39 to $61.20 per barrel in London.

The dollar eased to 109.34 yen from 109.35 yen late Tuesday. The euro strengthened to $1.1439 from $1.1432.

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