Stock market today: Asian shares mixed as investors watch for Fed rate hike
Asian shares have advanced after Wall Street closed out another winning week BANGKOK -- Asian shares were mixed on Monday, with Hong Kong's benchmark sinking 2.2% following reports suggesting China's leaders do not plan major stimulus measures to prop up slowing growth in the world's second-largest economy. U.S. futures edged lower and oil prices also fell. The Federal Reserve is widely expected to raise its federal funds rate on Wednesday to its highest level since 2001. Investors are hoping that might be the final increase of the tightening cycle because i NFL ation has been cooling since last summer. The federal funds rate started 2022 at virtually zero. A meeting this week of the powerful Politburo of the ruling Communist Party later this week had raised hope for more help for the slowing economy. While reports Monday said that was unlikely, the country's economic planning agency disclosed detailed measures Monday to encourage private investment, the official Xin...