Asian stocks swung between small gains and losses ahead of the Federal Reserve’s policy decision with investors speculating the central bank will cut interest rates for the first time this year.
The MSCI Asia Pacific Index erased opening losses to trade flat. Chinese technology stocks listed in Hong Kong jumped to their highest level in four years as optimism over artificial intelligence fueled demand. Baidu Inc. surged as much as 18% after a stock upgrade. US equity-index futures were little changed, while contracts indicated gains for Europe.