Asian stocks were mostly higher after a choppy session on Wednesday, with a key U.S. monetary-policy meeting on tap for later in the global trading day and with European sovereign-debt woes never far from the spotlight.
In Tokyo, the Nikkei 225 Index advanced 19.92 points, or 0.2%, to 8,741.16
In Hong Kong, the Hang Seng Index sifted off 190.63 points, or 1%, to 18,824.20
Amid few signs of progress in Europe toward heading off a Greek default, Commonwealth Bank of Australia lost 1%, Japan’s Nomura Holdings Inc. slipped 0.3%, and HSBC Holdings PLC declined 1.5% in Hong Kong.
Investors worried about developments in the U.S. have for some weeks been anticipating more measures from the Federal Reserve to support the U.S. economy.
Barclays Capital strategists said Wednesday that they are looking for the U.S. interest-rate setting committee to increase the duration of securities.
Such a move, which the market has already termed "Operation Twist," is now largely priced in, the strategists believe, adding that "the risk now is of a disappointment."
The outlook for technology-sector earnings may be improving. U.S. technology giant Oracle Corplate Tuesday reported a 36% increase in fiscal-year profit and an in-line outlook.
Additionally, profit growth for Toshiba Corp. and Mitsubishi Electric Corp. means that both firms are expected to raise their interim dividend payouts to the highest level since 2008, the Nikkei reported.
Some major exporters also moved higher, with Canon Inc. up 0.7% in Japanese trade, while Li & Fung Ltd. jumped 4.1% in Hong Kong.
However, Toyota Motor Corp. shares were down 0.5% in Tokyo after a massive typhoon hit Japan, reportedly causing at least four deaths. Toyota has halted operations at 11 plants in the area.
In the energy sector, companies were advancing as the dollar weakened a touch ahead of the U.S. Federal Reserve meeting, with Hong Kong-listed PetroChina Co. up 0.6%, and Woodside Petroleum Ltd. up 1% in Sydney.
Earnings news helped retailers advance in Australia, with David Jones Ltd. up 2.2% after the department-store operator stuck to its outlook, even as it posted a drop in profit.
Australian retail peers also tracked higher, with Myer Holdings Ltd. up 1.9% and Harvey Norman Holdings Ltd. climbing 3.5%.
In other markets;
Shanghai’s CSI 300 Composite Index picked up 81.17 points, or 3%, to 2,771.01
Taiwan’s Taiex Index added 43.03 points, or 0.6%, to 7,535.88
Korea’s Kospi Index tacked on 16.31 points, or 0.9%, to 1,854.28
Singapore’s Straits Times Index advanced 10.95 points, or 0.4%, to 2,791.79
New Zealand’s NZX 50 Index moved up 18.21 points, or 0.6%, to 3,308.83
Australia’s S&P/ASX 200 Index recovered 31.60 points, or 0.8%, to 4,071.80
