Asian shares down ahead of Fed decision

By Aysu Bicer

ANKARA (AA) - Asian shares closed Wednesday in the red ahead of the Fed rate decision, with investors were cautious on a global basis and risk appetite remained low.

The Fed is expected to raise interest rates by 50 basis points at each of its meetings in May, July and September and by 75 basis points in June.

Asian stock markets were under selling pressures as capital markets in China and Japan were closed.

The continued implementation of new COVID-19 measures in China continues to be the main risk factor, as well as news flow about the oil exchange between India and Russia also increased the risk perception.

The Asia Dow, which includes blue-chip companies in the region, was down 7.86 points, or 0.23%, to 3,390 points.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, sank 232.37 points, or 1.10%, to 20,869.

India's Sensex benchmark, on the other hand, lost 1,309 points, or 2.29%, to 55,669, while the Singapore index went down 7.63 points, or 0.23%, to 3,349.