MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.14 %.
· Japan’s Nikkei share average slipped on Wednesday as investors took profits after a 10-day rally ahead of key central bank meetings in the United States and Japan, but continued to hover not far from its four-month high touched a day earlier.
The benchmark Nikkei average retreated 0.2% and closed at 21,960.71, near its four-month peak of 22,041.08 Tuesday, while the broader Topix dropped 0.5% to 1,606.62.
Investors broadly remained on the sidelines ahead of key policy decisions by the U.S. Federal Reserve due later Wednesday and the Bank of Japan (BoJ) on Thursday. But some trimmed positions ahead of the Fed’s policy meeting, analysts said. A 25 basis point cut by the Fed is seen as near-certain, with investors focusing on the so-called “dot plot,” which shows where policymakers expect rates to be in the future.
A Reuters poll pointed toward the Bank of Japan keeping its policy on hold. However, 28 of 41 economists expect it will ease this year and 13 believe it may surprise by taking action at the Thursday meeting.
· China stocks rose on Wednesday on expectations of lower borrowing costs at home and the United States, with a resumption of trade talks between Beijing and Washington aiding risk appetite.
China's blue-chip CSI300 Index gained 0.5% to 3,910.08, while the Shanghai Composite Index rose 0.3% to 2,985.65860.
The U.S. Federal Reserve is widely expected to lower key borrowing costs by 25 basis points later on Wednesday.
Investors are also closely monitoring developments in the U.S.-China trade talks. U.S. and Chinese deputy trade negotiators are due to meet in Washington this week, to pave the way for high-level talks in early October.
· European stocks closed slightly lower Tuesday as investors monitored the fallout from the weekend attacks on Saudi Arabia’s oil supply.
The pan-European Stoxx 600 closed provisionally almost 0.1% lower, paring losses after dropping as much as 0.5% earlier in the day. Bank shares were the worst performers, down 1.9%, while food and beverages stocks led gains with a 1% rise.
Reference: Reuter, CNBC
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