Fed Decision Looms as Asian Stocks Steady Ahead of Rate Hike

Asian stocks steadied after four days of losses ahead of the US Federal Reserve's interest rate decision. Markets are expecting the first hike since 2023, with a more than 90% chance of a rate increase.

The MSCI regional equities gauge rose 0.1%, with five of the 11 subgroups advancing. Equity-index futures for Wall Street gauges nudged 0.1% higher as OpenAI weighed a new funding round at a US$1.2 trillion valuation.

Helping sentiment, Brent crude oil dropped 0.4% to just above US$108 a barrel after gaining almost 20% this month. Treasury futures consolidated before the Fed's announcement on Wednesday (Sep 16), while government bonds opened higher in Australia and New Zealand.