Tokyo (Nikkei Average NIK, +0.07% ) down 0.1%
Hong Kong (Hang Seng Index HSI, +1.05% ) up 1%
Shanghai (Shanghai Composite Index SHCOMP SHCOMP, +0.86% ) up 0.8%
Sydney (S&P/ASX 200 XJO, -0.46% ) down 0.6%
Seoul (Kospi SEU, +0.17% ) up 0.2%
Taipei (Taiex Y9999, +1.15% ) up 1%
THE Straits Times Index (STI) opened lower at 3,361, down 8.95 points or 0.27 per cent, on Wednesday, weighed down by cautious sentiments as commodity prices fall and nervousness increased ahead of a Federal Reserve policy statement.
Oil extended losses from a six-year low with the US government data projected to show crude stockpiles had risen to a fresh record.
Analysts are saying US oil is on the cusp of a bear market, with many predicting supplies already at their highest level in more than 30 years rose by another 4.4 million barrels.
The Fed may cut a reference to being "patient" on rate rises in its policy statement, Morgan Stanley and BNP Paribas SA have said, according to Bloomberg.
The Straits Times Index on Tuesday first bounced up 20 points in response to Wall Street's Monday rally but as the day wore on, traders either sold into strength or went short, resulting in the index finishing with a net loss of 6.09 points at 3,369.95.
Over in Hong Kong, the Hang Seng Index gave up triple-digit gains to close in the red. The speculation was that the US market's Monday rebound would prove temporary and that it would come under renewed pressure on Tuesday. The US Federal Reserve's Open Markets Committee meets on Tuesday and Wednesday to decide on interest rates.
Whatever the case, turnover here at 1.4 billion units worth S$1.2 billion was an improvement on Monday's S$901 million and excluding warrants, the advance-decline score was 177-288.
