Asian shares mostly higher before Fed meeting, Biden speech

Asian shares are mostly moderately higher in listless trading as investors watch for news out of a Federal Reserve meeting

TOKYO -- Asian shares were mostly moderately higher in listless trading Wednesday, as investors watched for news out of a Federal Reserve meeting. Japan's Nikkei 225 added 0.2% to 29,053.97 in afternoon trading, while South Korea's Kospi slipped 1.0% to 3,183.30. Australia's S&P/ASX 200 added 0.4% to 7,064.70. Hong Kong's Hang Seng edged up 0.2% to 29,008.47 while the Shanghai Composite rose 0.1% to 3,446.41. Analysts said Asian investors have adopted a wait-and-see stance ahead of the Fed meeting. “But the wider point and the bigger driver of markets, as equities shuffled nervously ahead of the FOMC meeting today, is arguably just how much restraint the Fed will exercise,” said Venkateswaran Lavanya at Mizuho Bank.