Shares retreated in Asia on Wednesday ahead of the Federal Reserve’s policy announcement. Benchmarks rose modestly in Tokyo and jumped in Sydney, but fell back in Hong Kong, Seoul and Shanghai.
Investors are awaiting the outcome of the U.S. Federal Reserve policy meeting later Wednesday, which is expected to keep the benchmark rate at nearly zero for some time to help the economy recover from the pandemic downturn.
The U.S. central bank will release a statement that economists say might change some of the language around its existing pledge to buy bonds to support markets.“Asian markets already have a quiet look about them, as they remain in wait and see mode ahead of the latest FOMC rate decision that is released in the early hours of.