Australian stocks edge higher as investors look ahead to Fed announcement

Australian stocks edge higher as investors look ahead to Fed announcement

SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday morning trade as investors look ahead to the end of the two-day meeting for The in Australia jumped about 1.4% as shares of and rose at least 1% each. In South Korea, the declined 0.42%. Shares of Kakao Pay surged in their Wednesday debut as they more than doubled from their issue price of 90,000 Korean won. The stock was last trading around 108% higher than its issue price. Kakao Games also surged 3.47%, while Kakao Corp shares dipped 0.39% and Kakao Bank dropped 4.99%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.16% higher. Markets in Japan are closed on Wednesday for a holiday. The Federal Reserve , with investors watching out for details surrounding any scaling back of the amount of bonds the central bank buys each month. A private survey on Chinese services activity in October is also expected to be out on Wednesday, with the Caixin/Markit services Purchasing Managers' Index due 9:45 a.m. HK/SIN. Wall Street rises to record highs again Overnight on Wall Street, the S&P 500 climbed 0.37% to 4,630.65 while the Dow Jones Industrial Average advanced 138.79 points to 36,052.63. The Nasdaq Composite