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Asia markets, Federal Reserve, China PMI, India PMI

Residential buildings in Hong Kong, China on October 23, 2023.

Vernon Yuen | Nurphoto | Getty Images

Asia-Pacific markets opened higher ahead of a policy decision from the U.S. Federal Reserve, as investors monitored a slew of manufacturing data.

The Fed will conclude its two-day monetary policy meeting later in the day, with markets expecting the central bank to stand pat on interest rates.

Purchasing managers’ index data for October is expected from major economies including China, India and South Korea.

Japan’s Nikkei 225 index opened 2% higher, while the Topix added 1.95%.

South Korea’s Kospi was up 0.76% and the Kosdaq rose 1.27% at the open.

Futures for Hong Kong’s Hang Seng index stood at 17,113, pointing to a marginally higher open compared with the HSI’s close of 17,112.48.

In Australia, the S&P/ASX 200 traded 0.22% higher.

U.S. stocks closed higher on Tuesday, regaining some ground at the end of a dismal month that was defined by surging interest rates.

The S&P 500 climbed 0.65%, while the Nasdaq Composite added 0.48%. The Dow Jones Industrial Average advanced 0.38%.

Stocks posted their third-straight losing month. The Dow and the S&P 500 fell 1.4% and 2.2%, respectively. 

— CNBC’s Pia Singh and Hakyung Kim contributed to this report

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