World shares mixed, oil falls ahead of Fed meeting

World shares are mixed ahead of a decision by the Federal Reserve on interest rates

World shares were mixed Tuesday as investors awaited a decision by the Federal Reserve on interest rates.

Benchmarks rose in Hong Kong, Paris and Frankfurt but fell in Sydney and London. Trading was light with markets in mainland China, Japan and some other countries closed for holidays.

Oil prices fell and U.S. futures edged higher.

Australia’s central bank lifted its benchmark interest rate to 0.35% from 0.1%, the first such hike since 2010. The Fed is expected to announce a rate hike Wednesday as it and other central banks battle inflation that has been hovering at 40-year highs.