Asian stock markets are trading mostly higher on Wednesday, despite the broadly negative cues overnight from Wall Street, as traders picked up stocks at a bargain following the recent sell-off. Trades are also cautious ahead to the US Federal Reserve's highly anticipated monetary policy announcement later today. Asian Markets closed sharply lower on Tuesday.
The Fed is likely to leave interest rates unchanged, although the accompanying statement could hint at the first rate hike as early as the next meeting in mid-March. Markets expect the central bank to announce four hikes this year to rein in inflation.
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