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Asia mixed on Fed decision


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TSMC is down sharply Wednesday as Taiwan techs take a plunge.
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(CNN) -- Asian stocks are mixed at midday Wednesday as markets react to the U.S. Federal Reserve keeping interest rates on hold.

Taiwan is sharply lower, the Taiex plunging more than 3 percent on big falls among tech stocks such as TSMC and UMC.

Hong Kong is also well in the red.

With Japan, South Korea and China on holiday, the focus is on these markets, along with Australia and Singapore.

In Australia, stocks are higher at midday after the central bank left rates on hold, as expected.

Big miners Rio Tinto and BHP Billiton are helping to push the S&P/ASX200 0.5 percent higher to 3407.2.

BHP is up 2 percent to A$11.74 and Rio Tinto is 1.3 percent ahead to A$32.85.

The market's biggest stock, media group News Corp. is down slightly to A$12.68, after a 1.6 percent gain in its U.S.-listed American Depositary Receipts.

In the United States, the Federal Reserve left rates at 1958 lows but dropped a pledge to be patient from its commentary, which investors saw as a move closer to lifting rates. The Fed said any shift would be at a "measured" pace. (Full story)

In Singapore, the Straits Times index is virtually flat, up 0.07 percent to 1866.70. Leading bank DBS Group is up 1.4 percent to S$14.40.

Small rival UOB is steady at S$13.90 after government investment group Temasek Holdings launched a hostile bid for UOB's 49 percent stake in property arm UOL.

In Hong Kong, the Hang Seng index is down 1.22 percent to 11,952.44, dropping back below the 12,000 mark on sharp falls for Hutchison Whampoa and China Mobile.

But HSBC is up 0.4 percent to HK$114.50.

In Taiwan, the Taiex is 3.1 percent lower to 5997.09. Chip foundry TSMC is off 4.2 percent to T$56.50 and UMC is 3.6 percent in the red at T$29.10.

Industrials are also down, with China Steel off 3 percent to T$29.20.

On Wall Street Tuesday, the Dow Jones industrial average finished flat, up just 0.03 percent, while the tech-heavy Nasdaq put on 0.61 percent to 1950.48. (Full story)


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