Asian markets turn slightly higher, gold stable above $1,280

All the major Asian indices are trading on a flat to positive note on Wednesday. Today is the big event for the week and that is interest rate decision and press conference by FOMC. Markets expect less volatility ahead of the FOMC.

Gold remains well supported above $1,280 marks and trading around $1,283 levels while USD/JPY is finding support around 106.00 marks.

Japan’s Nikkei N225 was trading 0.72% higher at 15,972.53 points in Tokyo.

South Korea’s Kospi was trading 0.06% higher at 1,973.17 points.

Shanghai composite index to open down 1.0 pct at 2,814.69 points and China's CSI300 index to open down 1.0 pct at 3,043.96 points.

Hong Kong’s Hang seng was trading 0.42% higher at 20,469 points.