Asian shares were mixed Tuesday amid cautious trading ahead of a policy meeting by the U.S. Federal Reserve.
Japan's benchmark Nikkei 225 lost 0.4% to finish at 29,520.90. Australia's S&P/ASX 200 slipped 0.6% to 7,324.30. South Korea's Kospi surged 1.1% to 3,012.63. Hong Kong's Hang Seng fell 0.1% to 25,124.94, while the Shanghai Composite shed 1.2% to 3,502.60.
Investors were also watching for action from the Reserve Bank of Australia, which kept its key interest change unchanged at a record low 0.1% but indicated it was preparing to cut back some of its economic support measures. More than 65% of stocks in the S&P 500 rose, led by energy companies as the price of U.S. crude oil rose 0.6%, adding to a more than 75% gain so far this year. Exxon Mobil rose 1.8%. A mix of companies that rely on direct consumer spending for goods and services accounted for a big slice of the index's gains. Tesla jumped 8.5% and Starbucks gained 3.5%.
The latest gains came as investors reviewed another batch of corporate quarterly report cards in what has so far been a better-than-expected earnings season, despite Wall Street's concerns over the impact supply chain disruptions and higher inflation are having on companies.
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