Asian markets mixed; Fed meeting in focus

Asian equity markets were mixed on Wednesday following a similar dynamic on Wall Street and as investors progressively returned after holidays.

In Japan, the Nikkei 225 index ended 0.19 percent lower at 22,465.50 points, while the broader Topix was down 0.15 percent at 1,771.52 points. Mining and oil-related stocks were among the worst performers of the session. Automakers were also in red territory.

In Australia, the S&P/ASX 200 was able to recover from early-hour losses to add 0.58 percent to 6,050.20 points, with industrials and information technology components contributing most gains.

Meanwhile, South Korea’s Kospi benchmark eased 0.39 percent to 2,505.61 points, amid falling stocks from the manufacturing and car industries.

In mainland China, the Shanghai composite and the Shenzhen Composite closed down 0.01 percent and up 0.18 percent, respectively. Indexes were supported by upbeat data. China's Caixin manufacturing PMI jumped to 51.1 in April, against a forecasted reading of 50.9.

Hong Kong's Hang Seng Index was nearly unchanged during the session, as losses seen in financials and real estate developers were capped by a booming technology sector.

Looking at currencies, the dollar extended gains in early trading hours, supported by better-than-expected US corporate earnings while traders eyed a fresh monetary statement.

About 80 percent of S&P 500 companies that had presented their Q1 earnings Monday had topped expectations, reported news agency Thomson Reuters.

Ahead in the day, trades will keep an eye on Germany and the Eurozone manufacturing PMIs. In both cases, analysts are forecasting no changes from the prior month. EU’s gross domestic product for the first quarter is due at 09:00 GMT, along with March unemployment rate.

In the United States, ADP nonfarm employment change for April will be out at 12:15 GMT. Attention will also be directed to a new Federal Reserve monetary policy meeting. In this opportunity no interest rate changes are expected.

FortFS