Kospi drops 0.93% and Nikkei 225 slips 0.06% as investors await Fed rate decision

Asian equities fell on Wednesday, with South Korea’s Kospi down 0.93% and Japan’s Nikkei 225 off 0.06%. Markets are focused on the Federal Reserve’s policy meeting as some FOMC members warn inflation could prove more persistent and higher energy prices add to those concerns. Some officials also want to remove wording that suggests the next rate move is likely to be a cut. The meeting is the first chaired by Kevin Warsh, as Donald Trump continues to press for lower borrowing costs.