Asia stocks hesitate as Fed decision looms

Published on NewsOK Modified: September 18, 2013 at 12:07 am •  Published: September 18, 2013
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Japan's Nikkei 225 index rose 1.2 percent to 14,481.32. Australia's S&P/ASX 200 lost 0.3 percent to 5,237.20. South Korean markets were closed for a public holiday. Benchmarks in New Zealand and Singapore rose while the Philippines and Indonesia fell.

Hong Kong's Hang Seng, which gained more than 1,000 points in September by Tuesday's close, fell 0.4 percent to 23,099.22 as investors booked profits.

Stocks on Wall Street rose on Tuesday as investors bet that the Fed won't cut back its economic stimulus more than expected. The Standard & Poor's 500 index rose for the 10th out of the last 11 trading days. It now stands four points shy of its all-time record high, set on Aug. 2.

The Dow Jones industrial average rose 0.2 percent, to close at 15,529.73. The Standard & Poor's 500 rose 0.4 percent to 1,704.76. The Nasdaq composite rose 0.8 percent, to 3,745.70.

Benchmark oil for October delivery was up 21 cents to $105.63 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.17 to close at $105.42 on the Nymex on Tuesday.

In currencies, the euro rose to $1.3360 from $1.3357 late Tuesday. The dollar fell to 99.13 yen from 99.15 yen.

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Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson

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