NEW YORK (AP) – All times local:
2:40 a.m.
Asian stocks are mostly lower Wednesday as an overnight surge in oil prices raises questions about the outlook for the energy sector.
Investors are watching for the outcome of policy meetings by the U.S. Federal Reserve and Bank of Japan. The Fed is expected to leave interest rates unchanged, while the Bank of Japan could take new steps to stimulate Japan’s economy.
Japan’s benchmark Nikkei 225 lost 0.4 percent to 17,290.49. Hong Kong’s Hang Seng fell 0.4 percent to 21,312.12. The Shanghai Composite index fell 0.4 percent to 2,953.89. Australia’s S&P/ASX 200 shed early gains, slipping 0.6 percent to 5,253.50.
Benchmark U.S. crude oil rose 50 cents to $44.54 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 58 cents to $46.32.
The euro rose to $1.1307 from $1.1297 on Tuesday. The dollar fell to 111.17 yen from 111.32 yen.