Asian stocks rise with Nikkei close to records; Fed decision looms

Asian equities broadly advanced as investors looked past mixed Wall Street cues and focused on the upcoming Federal Reserve decision. Japan’s Nikkei 225 came close to record highs, supported by gains in chipmakers and industrial stocks amid optimism that AI-related demand is boosting exports and narrowing Japan’s trade deficit. The TOPIX also rose, while Singapore’s market hit a record high on strong non-oil export growth. Australia’s ASX 200 gained after the RBA left rates unchanged, and India’s Nifty futures rose. Gains were capped by caution ahead of the Fed, which is expected to keep rates steady and provide guidance on the policy path. Hong Kong and Shanghai were softer, reflecting weak Chinese data, while South Korea was broadly flat after volatile chip trading. Overall, the article points to a risk-on tone in Asia, but with market conviction limited by central-bank uncertainty and uneven regional growth signals.