Market Report – Asian Shares Mixed, Await Fed

In today’s market report… Asian stocks were mixed. Investors were encouraged by strong corporate news, but cautious ahead of a U.S. Federal Reserve meeting later today, and regional market holidays this week.

Tokyo stocks rose in early trade, led by Nissan Motor. Shares of Japan’s Number three automaker rose to a four-month high, on its plans to double production in China.

But both Nissan and the broader market ultimately declined, closing a quarter of a percent down.

Other regional stock markets were mixed amid thin trade, with investors waiting for clues on when Fed chairman Ben Bernanke (ber-NAN-key) could unveil new stimulus plans for the U.S. economy.

The dollar fell to near five-week lows.

Hong Kong’s Hang Seng found support from property stocks, but shares of the mainland banks weighed on the benchmark.

Trading volumes in Shanghai were low, ahead of the three-day mid-autumn celebrations that will see the exchange shut for the rest of the week.

The South Korean bourse is shut from today till Thursday for a harvest festival.

Sydney stocks rose in early trade on higher commodity prices, but pared gains on a mix of profit taking and a strong Australian dollar.

The currency rose after the Reserve Bank of Australia confirmed market expectations of a likely rise in interest rates, perhaps as soon as next month.

The All Ordinaries closed 0.3 percent lower.

Foto: NTDTV