Asian shares are seen opening higher on Wednesday with markets looking ahead to the latest word on interest rates following the end of a two-day meeting by the U.S. Federal Reserve.
In Asia markets, ASX and Nikkei futures pointed to higher open in cautious trade on Wednesday ahead of a U.S Federal reserve review of interest rates.
The Fed is expected to hold interest rates steady after its two-day meeting that began Tuesday, as it pauses to examine more economic data, but may hint it is on track for an increase in
June.
U.S. equities closed mostly flat on Tuesday. The Nasdaq composite hit an intraday record of 6,102.72 and eked out a closing record, with shares of Apple also hitting a new high. Apple’s stock also had the most positive impact on the Nasdaq 100 index, which also reached a record high.
Apple reported after the bell and guided to third quarter revenues of around$44.5 billion, a bit below market consensus. Apple is down 2.4% in the post-market, although some focus now also turns to Tesla and Facebook, which have both performed very well of late.
Overnight, oil prices sharply extended losses just before Tuesday’s settlement, with U.S. crude breaking below $48 a barrel for the first time in more than a month.
U.S. West Texas Intermediate futures and international benchmark Brent crude were both down more than 2 percent. The contracts surrendered gains earlier in the session as rising output in the United States, Canada and Libya offset news of falling production in Russia and OPEC.