Asian equity markets followed their U.S. peers higher on Wednesday ahead of the Federal Reserve’s policy statement. The Federal Open Market Committee concludes a two-day session later in the day, where it is widely expected to announce the end of its massive bond-buying stimulus.
A new CNBC survey revealed that market participants scaled back their expectation of an interest rate hike; they now expect a hike in July 2015, a month later than when the survey was conducted in September.
Ahead of the outcome, all three major indices on Wall Street bounced more than 1 percent, with the S&P 500 ending above its 50-day moving average for the first time in almost a month. Underpinning gains was data showing October consumer confidence hitting its highest level since 2007.
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