Asia Pacific equities rose on Monday following on from another record high on Wall Street as attention turned to the US Federal Reserve’s meeting, which starts on Tuesday.
The Federal Reserve is widely expected to announce plans to begin shrinking its balance sheet in a step towards a normalisation of monetary policy, and investors will be looking for clues on whether the Fed will opt to raise interest rates once more this year.
The S&P 500 ended up 0.2 per cent on Friday, powering past the 2,500 level for the first time as investors shrugged off North Korea’s latest missile test.
Hong Kong’s Hang Seng index was up 0.8 per cent on Monday as the real estate sector rose 1.1 per cent and the information technology sector rose 1.2 per cent. In mainland China, the Shanghai Composite index was up 0.3 per cent and the Shenzhen Composite index was 0.1 per cent higher.
Read more: Asia Pacific stocks rise ahead of Fed meeting - Financial Times