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Asia-Pacific markets mostly rise as investors await Federal Reserve's rate decision

Vehicles bound for shipment parked in front of the Dream Angel vehicles carrier ship at the Nagoya Port in Nagoya, Japan, on Tuesday, June 18, 2024.

Asia-Pacific markets were mixed Wednesday, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average reach new highs.

Investors await the Federal Reserve's rate decision due Wednesday stateside, and assessed economic data from Japan. Indonesian central bank's rate decision is also due later in the day.

Japan's imports and exports in August rose 2.3% and 5.6%, respectively, from a year ago, according to Japan's Ministry of Finance, both missing the Reuters poll estimates of 13.4% and 10% growth.

Japan's private sector machinery orders in July declined 0.1% from the previous month, according to data from the Cabinet Office, missing Reuters estimates of a 0.5% increase.

Bank Indonesia Board of Governors were set to wrap up a two-day meeting and make a key rate decision later on Wednesday. The policy rate stands at its highest level since 2016, even as inflation has cooled to well within the central bank's 1.5%-3.5% target.

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