Asia’s major stock indexes posted minor advances on Wednesday but there was an air of uncertainty over trading floors ahead of the US Fed’s interest rate announcement later in the day.
The dollar ceded some of its overnight gains while Asian stocks struggled for momentum as traders weighed the odds of a super-sized Federal Reserve interest rate cut.
Markets have gone from expecting a moderate quarter-percentage-point cut to pricing in a 63% chance the Fed will reduce rates by 50 basis points, up from 14% a week earlier, according to the CME’s FedWatch Tool.
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Japan’s Nikkei share average rebounded, helped by a softer yen and a recovery in chip-related stocks, although moves were subdued.
The Nikkei share average was up 0.49%, or 176.95 points, to close at 36,380.17, after a two-session slide on a stronger yen, while the broader Topix was…
