In Asian Equity Markets indices eased on Wednesday as investors shifted their focus from the recently concluded U.S.-North Korea summit to the conclusion of the Federal Reserve’s June meeting later in the day. Japan’s Nikkei 225 edged up by 0.15 percent, with shippers and utilities gaining. The materials sector lagged the broader index, while automakers rose 1 percent. Down Under, the S&P/ASX 200 declined 0.51 percent, with most sectors trading in negative territory. The heavily weighted financials subindex eased 0.65 percent and resource plays also pulled back.

In Currency Markets the US dollar approached a three-week high against the yen and stood tall against the euro on Wednesday ahead of the Federal Reserve’s policy meeting, which could give clues on how many more rate hikes might come out of the U.S. this year. The Fed concludes its two-day policy meeting later on Wednesday, at which it is widely expected to hike rates for the second time this year. The euro was little changed at $1.1747 after slipping 0.35 percent overnight. The pound was a shade lower at $1.3371, unable to hold gains made overnight when it briefly rose to $1.3424.

In Commodities Markets oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary output cuts led by producer cartel OPEC could be loosened. Brent crude futures, the international benchmark for oil prices, were at $75.65 per barrel, down 23 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $65.99 a barrel, down 37 cents, or 0.6 percent, from their last settlement. OPEC on Tuesday said that the oil market outlook in the second-half of 2018 is highly uncertain and warned of downside risks to demand.

In US Equity Markets the S&P 500 and Nasdaq ended higher on Tuesday, boosted by gains in the technology and utilities sectors, and shares of media and telecom companies jumped in extended trade after AT&T won court approval to buy Time Warner. The S&P 500 gained 0.17 percent, to 2,786.85 and the Nasdaq Composite added 0.57 percent, to 7,703.79. Twitter gained 5 percent, to $43.49, after J.P. Morgan raised its price target on the stock by $11 to $50, saying it was confident about the company’s advertising revenue growth.

In Bond Markets U.S. Treasury yields rose on Tuesday ahead of Wednesday’s widely expected hike in interest rates by the Federal Reserve and after inflation data met economists expectations. Benchmark 10-year notes fell 1/32 on the day in price to yield 2.961 percent, up from 2.957 percent on Monday. The yields briefly fell after data showed the Consumer Price Index increased 0.2 percent last month, as expected. In the 12 months through May, the CPI accelerated 2.8 percent. The Treasury Department also saw solid demand for a $32 billion in three-year notes and $22 billion in 10-year notes on Monday.