Asian Shares wobble on uncertainty over US stimulus

Shares were mixed in Asia on Tuesday as investors watched for signs of a possible change in U.S. stimulus efforts by the Federal Reserve, according to AP. Asia's biggest benchmark, Japan's Nikkei stock average, shed early gains to fall 0.2 percent by early afternoon, to 13,007.28. Hong Kong's Hang Seng index dropped 0.3 percent to 21,153.06, while South Korea's KOSPI index recovered from early losses to gain 0.9 percent at 1,900.62. Shares advanced Monday on growing expectations that the U.S. Federal Reserve will maintain its current policy stance when policymakers meet this week. But that optimism appears to be wavering. But on Tuesday, shares rose in Singapore, Malaysia, Taiwan, Indonesia, mainland China and New Zealand. Benchmarks in India and Australia fell. A meeting of leaders from the Group of Eight top industrial countries in Northern Ireland appeared to have little impact on the markets given the gathering's main focus on diplomatic issues such as Syria and North Korea. In the U.S., the Dow Jones industrial average gained 0.7 percent to 15,179.85 while the broader S&P 500 index rose 0.8 percent to 1,639.04. Oil prices fell ahead of the Fed's meeting, with the benchmark New York rate down 20 cents at $97.57. The contract fell 8 cents to finish at $97.77 a barrel on the Nymex on Monday. In currencies, the euro rose to $1.3342 from $1.3340 late Monday in New York. The dollar rose to 94.96 yen from 94.86 yen.