HONG KONG: Asian markets were mixed yesterday following a strong lead from Wall Street, with investors biding their time as they await the end of a crucial US Federal Reserve policy meeting.
With few other trading cues, the main focus is on the US Fed meeting, which is expected to see policymakers begin reeling in the bank's massive stimulus programme.
Tokyo rose 1.35 per cent to 14,505.36, while Shanghai added 0.29 per cent to 2,191.85.
However, Sydney ended 0.25 per cent lower, shedding 13.1 points, to 5,238.1 and Seoul was closed for a public holiday.
While economists tip the Fed to announce a taper of its quantitative easing the big question is how much it will be cut by.
Emerging economies - particularly India and Indonesia - have suffered a flight of foreign cash since US Fed boss Ben Bernanke in May said the US economy was showing signs of strength that meant QE could be wound in.
Asian traders were given a bright lead from Wall Street, where the Dow ended 0.23 per cent higher and the S&P 500 added 0.42 per cent. The Nasdaq climbed 0.75 per cent to its highest close since September 2000.
In other markets:
* Taipei fell 0.49 per cent to 8,209.18. Taiwan Semiconductor Manufacturing Co shed 2.37 per cent to T$103.0 while MediaTek was fell 0.54 per cent to T$370.0.
* Manila lost 0.16 per cent to end at 6,333.96. Ayala Land fell 0.53 per cent to 28.10 pesos, while Alliance Global lost 2.99 per cent to 26.00 pesos.
* Wellington rose 0.12 per cent to 4,703.83. Air New Zealand gained 1.83 per cent to NZ$1.39 while Contact Energy was up 2.32 per cent at NZ$5.29.
* Bangkok fell 0.32 per centto 1,439.13. Telecoms company True Corp gained 5.00 pe rcent to 8.40 baht, while import and export firm Berli Jucker added 4.84 per cent to 48.75 baht.
* Jakarta ended down 1.20 per cent at 4,463.25. Semen Indonesia fell 2.08 per cent to 14,100 rupiah, while Indofood Sukses lost 2.19 per cent to 6,700 rupiah.
* Mumbai rose 0.80 per cent to 19,962.16. Wockhardt rose 5.00 per cent to 559.9 rupees, Wipro gained 5.41 per cent to 475.35 rupees and Dr. Reddy's Laboratories added 2.64 per cent to 2,366.0 rupees.AFP