Asian Shares Mixed Ahead of FOMC

Asian shares were mixed on Wednesday as investors remained cautious ahead of US growth data and the outcome of the Federal Reserve meeting.

The US central bank will wrap up its two-day policy meeting later in the day and is expected to indicate whether it is on track to raise interest rates.
Trading volume was also thinner with one of the region’s biggest markets – Japan- closed for a public holiday.

Australia’s benchmark S&P/ASX 200 ended 1.85% lower at 5,838.60 points.
Chinese shares headed lower, with Hong Kong’s Hang Seng index ending 0.15% lower at 28,400.34 points, while the Shanghai Composite closed flat at 4,476.62.

In South Korea, the benchmark Kospi index closed 0.2% lower at 2,142.63.

Shares in Samsung Electronics rose 1.4% higher after its earnings came in line with the guidance it released earlier this month.

The tech giant reported a first-quarter operating profit of 6 trillion won ($5.64bn; £3.63bn).

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza