Asian stock markets are trading mixed on Wednesday, following the mostly negative cues overnight from global markets, with investors largely making cautious moves ahead of the U.S. interest rate decision later in the day. The Fed is expected to hike interest rates by 50 basis points, although forecasts are suggesting a 75-bp increase. Asian Markets closed mostly lower on Tuesday.
The central bank's accompanying statement is expected to provide clues about future rate hikes and monetary policy stance. There are fears that aggressive rate tightening by the Federal Reserve would push the world's largest economy into recession.
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