Japan's outgoing Prime Minister Shinzo Abe arrives at the Prime Minister's office in Tokyo on Wednesday.
AFP via Getty Images
Asian markets rose slightly early in the day of trading as traders waited for news from the US Federal Reserve later that day.
Japan's Nikkei 225
rose 0.1% while the Hang Seng index in Hong Kong rose
was about flat. The Shanghai Composite
little has been changed, and the smaller cap Shenzhen composite
fell 0.7%. South Korea's Kospi
advanced 0.1%. Benchmark indices in Taiwan
gained while Indonesian stocks
were flat. Australia's S & P / ASX 200
increased by 1%.
On Tuesday, a World Trade Organization panel found that the Trump administration's tariffs on $ 200 billion in Chinese goods are illegal, even though the organization has little recourse to the United States.
New data from Wednesday showed that Japan's exports were down 14.8% in August, but that was still better than the previous month and exceeded analysts' expectations. Exports to China rose 5.1%, while exports to the US fell 21.3%.
Japanese Prime Minister Shinzo Abe and his cabinet officially resigned on Wednesday to pave the way for Yoshihide Suga as the country's next Prime Minister.
"Asian markets are already looking at them calmly as they remain on hold ahead of the latest FOMC rate decision," wrote Jeffrey Halley, Oanda's senior Asia Pacific market analyst, in a note.
The US Federal Reserve is expected to signal on Wednesday that its interest rate policy will remain unchanged and close to zero through the end of 2023. The Fed will issue a policy statement at 2:00 p.m. Eastern and Chairman Jerome Powell will hold a press conference half an hour later.
The shares made modest gains on Wall Street on Tuesday. The Dow Jones industrial average
rose 2.27 points to 27,995.60 while the S&P 500
gained 17.66 points, or 0.5%, to trade at 3,401.20 which is the third straight increase. The Nasdaq Composite
finished the race with 133.67 points, or 1.2%, at 11,190.32, recording consecutive wins.
US crude oil benchmark in energy trading
rose 68 cents to $ 38.96 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil
The international standard rose by 65 cents to USD 41.18 per barrel.
The US dollar
down to 105.28 Japanese yen.