Asian stocks rose broadly on Tuesday in anticipation of a Federal Reserve rate cut when the U.S. central bank announces its monetary policy decision on Wednesday.
Fed officials will also release their quarterly update of economic and rate forecasts on Wednesday and Fed Chair Jerome Powell will hold his regular post-decision press conference, as concerns about a softening labor market take precedence over sticky inflation.
The focus was also on ongoing U.S.-China talks, with reports suggesting that Washington has reached a framework deal with China on TikTok's U.S. operations.
Also, U.S. Treasury Secretary Scott Bessent stated that the Trump administration will hold off on new tariffs on Chinese goods related to Russian oil purchases, pending substantial tariff actions from European countries.
China's Shanghai Composite index finished marginally higher at 3,861.86 after a choppy session. Hong Kong's Hang Seng index ended little changed with a negative bias at 26,438.51, giving up early gains.
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