In today's market report... Asian stock markets inched up Monday, with investors sidelined by a Japanese holiday and a key U.S. central bank meeting.
The Federal Reserve is not expected to announce new policy measures late Tuesday, but markets will be focusing on Chairman Ben Bernanke's (Ber-NAN-kee's) assessment of the U.S. economy, and hints of future action.
Overall trading volumes were light, with many markets also on a shortened trading week due to mid-autumn related festivities.
Stocks in South Korea and Taiwan edged to higher closes, with tourism stocks lead gains in Taipei's TAIEX, while banks lifted the KOSPI to a new 27-month high.
Hong Kong stocks traded flat as investors took profits after the Hang Seng's 5-month peak, while stocks in Shanghai pared earlier losses.
The Shanghai Composite was slightly weaker coming back midday, and ahead of a 3-day holiday that starts Wednesday.
Higher gold and copper prices did not lift Sydney stocks, which retreated on broad profit-taking.
Miners and banks led losses, but shares of ANZ Bank rose, on news it had completed its due diligence on possible acquisition target Korea Exchange Bank.