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Asia Markets: Asian stocks struggle for direction as investors focus on the Fed

Asian shares had a mixed session on Wednesday amid renewed investor concerns the U.S. Federal Reserve would raise interest rates by the year’s end.

Australia’s S&P/ASX 200 XJO, -0.57% ended down 0.6%, Taiwan’s Taiex Y9999, -0.17% was 0.2% lower and Korea’s Kospi SEU, -0.09% fell 0.1%. Singapore’s FTSE Straits Times Index was flat.

In Hong Kong, the Hang Seng Index HSI, +0.42% reversed early losses and ended up 0.6%, buoyed by financial and energy stocks as oil prices rose. Markets in mainland China remained closed for the week.

“It’s a short-term recovery for the stocks because the fundamentals haven’t changed” for the oil market, said Xutong Liu, an analyst at Bocom International.

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