Asian shares cautious ahead of US Fed meet

Asian share markets opened in green on Wednesday ahead of US Federal Reserve’s policy decision on capping gains, a report by Reuters stated.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%.

Japan's Nikkei climbed 1.1% and was trading at 16,610.19 points in early trade session.

All eyes are on the Fed, which concludes its two-day policy meeting later on Wednesday, Reuters story reported.

The U.S. central bank is widely expected to stand pat on monetary policy and the markets will sift through its statements - a post-meeting press conference will not be held - for any hints of a future interest rate hike, the report added.

The Hang Seng index was up 0.42% at 22,221.62 points at 800 hours.

SGX Nifty also climbed 0.16% at 8,605 points.

Crude oil extended losses after suffering big hits overnight on renewed concerns about oversupply, Reuters story reported.

U.S. crude was trading at $42.65 a barrel while benchmark Brent was trading at $44.82.