Asian stocks rose
before a Federal Reserve policy decision as gains in energy and utility
shares outweighed a decline in Japanese equities spurred by a stronger
yen.
The MSCI Asia Pacific
Index added 0.1 percent to 134.49 as of 9:09 a.m. in Tokyo after
dropping 2 percent the previous two days. Japans Topix index sank 0.5
percent after the yen surged 1.2 percent versus the dollar yesterday.
Russias currency plummeted to a record yesterday, defying a surprise
interest-rate increase, while crude resumed declines today. The Fed will
drop a pledge to keep interest rates near zero for a œconsiderable
time, according to economists.
South Koreas Kospi
index rose 0.3 percent. Australias S&P/ASX 200 Index gained 0.4
percent, while New Zealands NZX 50 Index was little changed.
Markets in Hong Kong
and China are yet to open. Futures on Hong Kongs Hang Seng Index lost
0.2 percent in their most recent trading session, and contracts on the
Hang Seng China Enterprises Index declined 0.6 percent. The Hang Seng
gauge entered a correction yesterday after extending a decline from a
Sept. 3 high to 10 percent.
Source : Bloomberg
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