Tokyo– Asian shares were mixed Wednesday while Chinese benchmarks surged ahead of a decision by the U.S. Federal Reserve on an interest rate increase to curb inflation, the Associated Press reported.

Oil prices rose more than $1 a barrel and U.S. futures were also higher. Stocks ended lower on Wall Street after an unexpectedly strong report on the job market raised concerns the Fed will keep the pressure on inflation with big rate increases.

Hong Kong’s Hang Seng jumped 2.6% to 15,859.39, while the Shanghai Composite index added 1.7% to 3,018.78.

Japan’s benchmark Nikkei 225 declined 0.1% to 27,643.18. Australia’s S&P/ASX 200 added 0.1% to 6,986.70. South Korea’s Kospi slipped nearly 0.1% to 2,333.67.

In energy trading, benchmark U.S. crude added $1.32 to $89.69 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose $1.19 to $95.84 a barrel.

In currency trading, the U.S. dollar edged down to 147.35 Japanese yen from 148.23 yen. The euro cost 98.95 cents, up from 98.78 cents.

Source: Saudi Press Agency