Asian stocks rise ahead of Fed

Asian stocks rose ahead of the Fed’s critical interest rate decision. Asia-Pacific stocks rose on Wednesday as investors awaited the U.S. Federal Reserve’s latest update on interest rate hikes as the Fed tries to balance inflation and stave off a banking crisis. Hong Kong’s Hang Seng led the gains in the region, rising 2.32 percent, while the Hang Seng Tech index rose 2.45 percent. Japan’s Nikkei 225 also rose 1.95 percent, close to 2 percent, and the Topix rose 1.94 percent. Australia’s S&P/ASX 200 rose 0.97 percent, while South Korea’s Kospi rose 1.1 percent and the Kosdaq rose 0.82 percent. In mainland China, the Shanghai Composite Index rose 0.39 percent and the Shenzhen Component Index rose 0.67 percent.