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Asian benchmarks mixed as markets await Fed rate moves

News Snapshot:

Asian shares were mixed on Wednesday while Chinese benchmarks surged ahead of a decision by the US Federal Reserve on an interest rate increase to curb inflation. Oil prices rose more than USD 1 a barrel and US 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. Chinese shares extended gains after strong advances a day earlier driven by speculation the government might be preparing to gradually relax stringent COVID-19 restrictions. Since that was not followed…

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