Stocks, dollar firm ahead of Fed decision

Stocks, dollar firm ahead of Fed decision

Stocks, dollar firm ahead of Fed decision

World stock markets and the dollar are firm ahead of an expected interest rate increase by the U.S. Federal Reserve. Notable technology names like Nvidia, Amazon, Tesla and Alphabet all saw their stock prices rise before the bell.

Hong Kong shares were little changed on Wednesday, lagging a record run in Wall Street, as investors waited for more clues from the Federal Reserve on future USA policy after an expected interest rate rise later in the day.

But the recent slowdown in inflation has become a red flag for markets, which doubt the Fed's ability to hike a second time before year end.

While expecting little surprise from the Fed's decision, players were keenly waiting for a news conference by Fed Chair Janet Yellen as well as the Fed committee's statement, hoping to have clues to future USA monetary policy management, market sources said.

U.S. consumer price index (CPI) and retail sales data for May are expected later on Wednesday.

The Hang Seng index rose 0.1 percent, to 25,875.90 points, while the China Enterprises Index lost 0.1 percent, to 10,514.91 points. The official Energy Information Administration weekly inventories report is slated for release later in the day.

The Nikkei 225 index opened higher on the back of Wall Street gains and briefly moved above the 20,000 level, but there was significant selling interest above this level and prices drifted lower into the session break.

Brent crude traded $48.32 a barrel on Tuesday, down 0.82 percent, while US crude was around $45.96 a barrel, down 1.08 percent.

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