The Asian stock market has gained up to 1.7%. China's Shanghai Composite and Shenzhen Composite grew by 0.88% and 1.17% respectively. The Hang Seng Index and Australia's S&P/ASX 200 advanced by 1.72% and 0.19% respectively. South Korea's KOSPI dropped by 0.05%, and Japan's Nikkei 225 lost 0.15%.
Trading in Hong Kong was suspended due to the issuance of a typhoon warning signal number 8.
Among the constituents of the Hang Seng Index, Country Garden Holdings Co., Ltd (+13.3%), Longfor Group Holdings, Ltd. (+13%), and CSPC Pharmaceutical Group, Ltd. (+12%) saw the biggest increase in their share value.
Meanwhile, Sands China, Ltd. gained 6.7%, China Resources Beer (Holdings) Co., Ltd. grew by 6.6%, and Haidilao International Holding, Ltd. added 5.8%.
The shares of Yum China Holdings Inc. were up by 4.1%, following a double increase in net profit and a 77% rise in operating profit in the previous quarter.
KakaoBank's shares advanced by 16%, following the release of a strong Q3 report.
Investors are now focused on the FOMC meeting, the regulator's interest rate decision, and the chairman's comments after the event. Investors want to know how long the central bank will be raising interest rates.
Over 80% of analysts expect the rate to be lifted by 0.75% to 3.75–4%. Some experts anticipate a 0.50% rate hike. About half of analysts forecast an increase in rates to 4.25–4.5% in December. The other half suggests the rate will rise to 4.5–4.75%.
Japanese companies are now on a losing streak with Kao, Corp. down by 8%, CyberAgent, Inc. by 7.2%, and Sumitomo Chemica Co. by 5,7%.
At the same time, Sony Group, Corp. posted strong quarterly results and improved its growth forecast for the year. In this light, its shares soared by 7%.
The share value of Nippon Steel, Corp. grew by 3.1%, following a 24.7% increase in net profit for the first six months of the fiscal year.
With a 1.8% rise in first-half net profit, Yokogawa Electric, Corp. shares gained 5.1%.
Consumer prices in South Korea accelerated by 5.7% year-on-year in October from 5.6% in September. Analysts had expected the inflation rate to remain at the same level. On a monthly basis, consumer prices grew by 0.3%.
Samsung Electronics lost 0.8%, and Hyundai Motor was down by 0.3%.
A 2.4% surge in the share value of BHP and Rio Tinto contributed to a rise in Australia's S&P/ASX 200.
