Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from global markets overnight, as data showing a tamer-than-expected increase in U.S. consumer prices helped ease concerns about the outlook for interest rates ahead of the US Fed's rate decision later in the day. Asian Markets closed mostly higher on Tuesday.
The Fed is widely expected to raise interest rate by another 50 basis points, with traders likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes.
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