- Global stocks were mixed in cautious trading ahead of the Federal Reserve meeting, and Chinese shares fluctuated as investors reconsidered speculation that China would abandon its zero-interest policy.
- The mainland benchmarks fluctuated between positive and negative territory, while Hong Kong indexes fell after a surge on Tuesday. Beijing's covid policy has been the most concerning for investors in the country's assets this year, with curbs and lockdowns pushing stock measures to among the worst in the world.
- Japan's Topix index rose, while the Nikkei 225 fell. South Korean and Australian stocks rose slightly. Stock futures in Europe and the US advanced.
- The S&P 500 finished lower after trading as much as 1% higher on Tuesday, triggered by a surprise rebound in job openings. Separate US manufacturing data showed that new orders fell in October for the fourth time in five months, painting a less rosy picture of the economy.
- The data was released ahead of the Fed meeting later this week, when the central bank is expected to raise interest rates by 75 basis points for the fourth time in a row, raising the upper limit of its target range to 4%. In Asia, the US 10-year yield hovered around 4%, while the more policy-sensitive two-year yield remained close to 4.5%.
