Asian Markets Rise Ahead of Fed Decision as Oil Prices Dip

Asian markets made gains on Wednesday as investors looked ahead to the Federal Reserve's policy decision. The Fed's interest-rate decision, due today, weighed heavily on Wall Street's major averages, which closed lower on Tuesday.

The Nikkei 225 rose 0.51% in Japan, while the Shanghai Composite gained 0.57% in China and Hong Kong's Hang Seng Index advanced 0.12%. India's Sensex also rose 0.28%, with passenger vehicle sales soaring 33.2% year-over-year in August.

Australia's ASX 200 added 0.27% to the gains, but the Australian dollar remained steady around $0.71, near a four-week low, as a firmer U.S. dollar and higher Treasury yields weighed on it.