Asian Stocks Rise Ahead of Expected Fed Rate Hike

Asian stock markets mostly rose on Wednesday as investors waited for the Federal Reserve's decision on interest rates, with widespread expectations of a hike. The US futures also edged higher.

Despite Japan recording its fourth consecutive month of trade deficit in August, the Nikkei 225 gained 0.4% to 63,721.89. South Korea's Kospi rose 1.3% to 6,711.62, while Hong Kong's Hang Seng edged up 0.1% to 24,700.62.

The Shanghai Composite index climbed 0.6% to 3,886.48, and Taiwan's Taiex jumped 1.1%. In contrast, Japanese memory maker Kioxia Holdings lost 2.9%, while chip equipment manufacturer Tokyo Electron rose 1.4%