Asia stocks mostly higher ahead of Fed rate decision

Asia stocks inched higher on Wednesday as investors awaited the U.S. Federal Reserve’s decision on interest rates.

Mainland Chinese stocks were mixed on the day, with the Shanghai composite up 0.44 percent to about 2,822.44 while the Shenzhen composite dipped 0.105 percent to around 1,730.74. Hong Kong’s Hang Seng index advanced 0.1 percent, as of its final hour of trading.

South Korea’s Kospi gained 0.7 percent to close at 1,947.56. Over in Australia, the S&P/ASX 200 rose 1.51 percent to end its trading day at 5,393.40 as shares of major banks such as Commonwealth Bank of Australia and Westpac advanced at least 4 percent each.

Overall, the MSCI Asia ex-Japan index rose 0.99 percent .