Asian Stocks Waver as Oil Prices and Yields Rise Ahead of Key Central Bank Meetings

Asian stock markets were volatile on September 15 as concerns about oil prices and bond yields added to investor caution ahead of key central bank meetings in the US and Japan.

The price of US crude rose 1.27% to $102.68 a barrel, while Brent increased by 1.21% to $106.96 per barrel, amid renewed supply concerns after Yemen's Iran-aligned Houthis launched an attack on Saudi Arabia.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.12%, with South Korea's market dipping 0.25%. In contrast, Japan's Nikkei rose 0.19% after reversing early losses.

The Federal Open Market Committee is set to begin its two-day meeting later in the day, with markets pricing in a 90% chance of a rate hike that would mark the US Federal Reserve's first increase since mid-2023.