Asia-Pacific stocks set to open lower; Japan trade data for May ahead

Asia-Pacific stocks set to open lower; Japan trade data for May ahead

SINGAPORE — Shares in Asia-Pacific struggled for direction in Wednesday morning trade as investors looked ahead to data releases regionally as well as the U.S. Federal Reserve's interest rate decision. In Japan, the slipped 0.2% in early trade while the Topix index gained 0.1%. Japan's exports in May rose 49.6% from a year earlier, data from the country's Ministry of Finance showed Wednesday. That was lower than a 51.3% increase expected by economists in a Reuters poll. South Korea's edged 0.16% higher. Australian stocks advanced as the gained 0.14%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.06% higher. Looking ahead, China is also set to announce economic data, including industrial production and retail sales for May, at 3:00 p.m. HK/SIN on Wednesday. Fed decision ahead Overnight stateside, the S&P 500 slipped 0.2% to 4,246.59 while the Dow Jones Industrial Average declined 94.42 points to 34,299.33. The Nasdaq Composite shed 0.71% to 14,072.86. The losses on Wall Street came as investors looked ahead to end of the U.S. two-day policy meeting that started Tuesday. While the central bank is not expected to take any action, traders will watch for comments on inflation and the Fed's eventual tapering plans. Currencies