Asian stocks down ahead of Fed

Asia-Pacific stocks fell broadly on Wednesday as investors awaited the Federal Reserve’s policy decision overnight. Most economists said they expected the Fed to raise interest rates by 25 basis points, while others predicted a pause. Hong Kong’s Hang Seng led losses in the region, led by energy, industrials and healthcare stocks, falling 1.28 percent, while the Hang Seng Tech index fell 1.83 percent. Australia’s S&P/ASX 200 fell 1.07 percent, while South Korea’s Kospi fell 0.75 percent and the Kosdaq lost smaller losses of 0.63 percent. Markets in Japan and mainland China were closed for a holiday on Wednesday. Overnight in the U.S., all three major indexes fell for a second straight session as banking fears returned to Wall Street ahead of the Fed’s interest rate decision.