Asian stocks were little moved Wednesday ahead of the U.S. Federal Reserve’s policy statement later in the day, though a weaker yen helped Japanese shares higher.
Japan’s Nikkei 225 index galloped ahead 139.83 points, or 0.9%, to 15,115.80. The U.S. dollar rose 0.3% overnight to cross the ¥102 mark, and was steady during Asian trade at ¥102.15.
The Hang Seng Index in Hong Kong dropped 21.87 points, or 0.1%, to 23,181.72. Chinese property developers fell after signs of further weakness in China’s housing market. Average new home prices rose 5.4% from a year earlier in May, compared with a 6.4% gain in April.
China Resources Land fell 0.7% in Hong Kong, and Evergrande Real Estate Group fell 1.8%.
Woodside Petroleum fell 3.7% in Sydney after the oil company resumed trading following Royal Dutch Shell PLC’s sale of a 9.5% stake in the firm to institutional investors. That move weighed on the broader market on Tuesday, as investors sold shares in other companies to take part in the deal.
Also in Sydney, energy-minerals firm Aquila Resources Ltd. surged 7.2% after the company recommended to shareholders that it accept a takeover deal from China’s Baosteel Group Corp. and Aurizon Holdings Ltd.
Investors stayed on the sidelines ahead of the Federal Reserve’s statement, waiting for an update on the direction of monetary policy in the world’s largest economy. The U.S. central bank is expected to announce another $10-billion reduction in its bond-buying program to $35 billion U.S. a month.
In other markets;
The Shanghai CSI 300 fell 9.44 points, or 0.4%, to 2,160.24,
In Korea, the Kospi index dipped 12.06 points, or 0.6%, to 1,989.49
Singapore’s Straits Times Index nicked ahead 2.36 points, or 0.1%, to 3,276.80
In Taiwan, the Taiex index gained 39.33 points, or 0.4%, to 9,279.93
In New Zealand, the NZX 50 subtracted 9.04 points, or 0.2%, to 5,184.46
The Australian S&P/ASX 200 index shed 17.95 points, or 0.3%, to 5,382.72
