CNBC – UPDATED WED, DEC 14 20221:55 AM EST

Asia-Pacific markets traded higher on Wednesday, after stocks on Wall Street saw a second day of gains on an inflation print that came in cooler than expected.

The Hang Seng index in Hong Kong rose 0.6% in its final hour of trade. In mainland China, the Shenzhen Component fell 0.2% and the Shanghai Composite was also down 0.1% as traders watched for updates on a key economic policy meeting that has reportedly been delayed on a surge of Covid infections.

In Japan, the Nikkei 225 gained 0.72% to 28,156.21 while the Topix was 0.6% higher to 1,977.42. South Korea’s Kospi also rose 1.13% to 2,399.25. In Australia, the S&P/ASX 200 was 0.67% higher to 7,251.3.

Investors are also anticipating the Federal Reserve’s next interest rate decision at the conclusion of its two-day policy meeting. Traders are largely pricing in a 50-basis point increase, a slight decline from the previous four hikes.

The U.S. dollar index last stood at 104.06 and the Japanese yen slightly strengthened to 135.38 against the greenback.

Source: https://www.cnbc.com/2022/12/14/asia-pacific-markets-ahead-of-fed-rate-decision.html