Asian stock markets are mixed on Wednesday, following mixed cues overnight from Wall Street, as traders are refraining from making major moves ahead of the Federal Reserve's latest monetary policy decision later today. Uncertainty about the pace of global economic rebound due to the continued surge in coronavirus cases in India and Japan are also weighing on the market. Asian markets closed mostly lower on Tuesday.
The Australian stock market is higher after recouping early losses on Wednesday, with the benchmark S&P/ASX 200 above the 7,000 mark near 14-month highs, on easing concerns of an earlier than expected interest rate hike after quarterly inflation data came in under expectations. Weakness in materials and gold miners are offset by gains in energy, financial and technology stocks.
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