Asian shares were mixed on Wednesday, tracking a muted lead from Wall Street after the S&P 500 edged to a fresh record, while the US dollar continued to weaken ahead of a key interest rate decision by the Federal Reserve.Markets are focused on the Fed’s policy announcement later in the day, with expectations that the central bank will keep its main interest rate unchanged for now. Traders are, however, looking for signals on the timing of possible rate cuts later this year.South Korean stocks outperformed the region, with the Kospi jumping 1.3 per cent to 5,152.14, a record high. Gains were led by technology shares, including chipmaker SK Hynix, which rose 3 per cent, as per AP.Japan’s Nikkei 225 slipped 0.5 per cent to 53,055.58, pressured by losses in major exporters amid sharp swings in the yen. Toyota Motor Corp fell 3 per cent, while other manufacturers also declined. The dollar was trading at 152.75 yen, slightly higher on the day, but nearly 4 per cent weaker than last week, when it surged close to 160 yen and triggered warnings of intervention from Japanese and US officials.Elsewhere, Hong Kong’s Hang Seng index climbed 2.4 per cent, while the Shanghai Composite added 0.5 per cent. Taiwan’s Taiex rose 1.1 per cent and India’s Sensex gained 0.5 per cent.The euro eased to $1.1995, though it has risen sharply against the dollar in recent sessions. An index tracking the dollar against major currencies fell to its lowest level since 2022.Investors have shifted funds into safe-haven assets, pushing gold up nearly 3 per cent above $5,200, while silver surged 9 per cent.Overnight in the US, the S&P 500 rose 0.4 per cent to 6,978.60, while the Dow fell 0.8 per cent and the Nasdaq climbed 0.9 per cent, amid mixed earnings and easing consumer confidence.
