Asia Shares Rise Moderately Ahead Of Fed Meeting

Asian shares traded mixed on Wednesday as markets anticipated the U.S. Federal Reserve's first interest rate cut in more than four years, Yuri Kageyama reported for the Associated Press (AP).

The Shanghai Composite index edged 0.1% lower to 2,701.15.

The Bank of Japan and the Bank of England are also holding monetary policy meetings later this week. While neither central bank is expected to change rates, their statements could signal future moves and influence the markets.

Japan's Nikkei 225 gained 0.2% in afternoon trading, reaching 36,269.04. Australia's S&P/ASX 200 inched down nearly 0.1% to 8,134.40, while South Korea's Kospi added 0.1% to the same level.

Trading in Hong Kong was closed for a national holiday.

The Shanghai Composite index edged 0.1% lower to 2,701.15. The Federal Reserve’s announcement is scheduled for Wednesday, with most expecting a rate cut from its current range of 5.25% to 5.50%, where it has remained for over a year.