Asian equities were mixed on Tuesday ahead of a Federal Reserve meeting with China's benchmark index outperforming the region following strong data.
The U.S. Federal Reserve begins a two-day policy review later on Tuesday and it is widely expected to declare the end of its quantitative easing program when it releases its statement Wednesday.
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"With the end of the asset purchase program a foregone conclusion, speculation is once again mounting about the movement of interest rates. The most watched two words in the financial world - 'considerable period' – continue to dominate financial commentary and The Street," said Evan Lucas, market strategist at IG in a note.
Meanwhile, oil prices extended losses in Asian trade with U.S. crude back below $81 after tumbling to a 28-month low in the previous session. The lower prices saw Wall Street shares end flat overnight after staging their biggest weekly rally of the year on Friday.