Asian shares mixed ahead of Fed policy statements

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mixed, with many investors staying on the sidelines ahead of an update on how aggressively the Federal Reserve will tackle inflation. Benchmarks fell in Tokyo and Seoul but rose in Hong Kong and Shanghai. Stocks have gyrated this week, putting heightened scrutiny on the Fed’s meeting Wednesday and whether the central bank will clarify just how fast it plans to tighten credit and potentially slow the economy. On Tuesday, stocks closed lower on Wall Street after another volatile day of trading. Technology companies like Microsoft were again the biggest drag on the market. Markets have been jittery over rising inflation and worries the Fed’s actions will be too late or too aggressive.