In Asian Equity Markets indices traded cautiously higher on Wednesday, with markets focused on the Federal Reserve after it kicked off its March meeting. Hong Kong’s Hang Seng Index got a lift, jumping 1.21 percent as technology, energy and property names led gains. Shares of index heavyweight Tencent rose 1.84 percent ahead of its earnings release later in the day. Mainland markets also notched gains, with the Shanghai composite rising 0.48 percent and the Shenzhen composite adding 0.63 percent. Elsewhere, Seoul’s benchmark Kospi index inched higher by 0.08 percent while the junior Kosdaq gave up early gains to slip 0.17 percent.

In Currency Markets the US dollar held firm against major currencies on Wednesday as traders look to whether the U.S. Federal Reserve will indicate faster monetary tightening this year, with the first rate increase of 2018 almost unanimously expected later in the day. The Canadian dollar and the Mexican peso gained after media reports that the U.S. administration had let go a contentious demand related to auto-content, removing a key roadblock to a deal for a new North American free-trade (NAFTA) agreement. The dollar index was steady at 90.28, after having risen to 90.446 on Tuesday, an almost three-week high.

In Commodities Markets oil prices rose on Wednesday, lifted by tensions in the Middle East and healthy demand, although rising U.S. output continued to weigh on markets. U.S. West Texas Intermediate (WTI) crude futures were at $63.80 a barrel, up 26 cents, or 0.4 percent, from their previous close. Brent crude futures were at $67.71 per barrel, up 29 cents, or 0.4 percent. Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday arrived in Washington for a state visit, raising speculation the United States could reimpose sanctions on Iran, following rewnewed criticism of the 2015 nuclear deal.

In US Equity Markets stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains. The S&P 500 gained 0.15 percent, to 2,716.94, and the Nasdaq Composite added 0.27 percent, to 7,364.30. Shares of Facebook, Twitter and Snapchat-owner Snap fell further on Tuesday. Facebook lost 4.75 percent after it said it faced questions from the U.S. Federal Trade Commission about how its users’ personal data was mined by a political consultancy hired by Donald Trump’s campaign. Snap fell nearly 4.0 percent to $15.86, dipping further below the $17 price set in its public listing a year ago.

In Bond Markets two-year Treasury note yields hit more than nine-year highs on Tuesday as investors awaited the conclusion of the Federal Reserve’s two-day meeting on Wednesday, when the U.S. central bank is widely expected to raise interest rates for the first time this year. Two-year note yields, which are highly sensitive to interest rate policy, jumped to 2.328 percent, the highest since September 2008. Benchmark 10-year note yields increased to 2.876 percent, after earlier rising to 2.888 percent, the highest since March 12.