OVERNIGHT

It's been about central banks mostly this week,the BOJ earlier, and now the Federal Reserve as overnight trading in Asia was mixed as the Nikkei was down 0.4% and Australia's S&P/ASX off 0.1%. While the a hang Send was flat with the KOSPI up 0.2%.

China finished its annual legislative meeting with the comment that China would meet its economic targets. The Shanghai Campsite was up 0.3%. Reuters reported: Shares in China have gained roughly 4% since the beginning of the National People’s Congress meeting, and at times, analysts have said that state-backed funds may have been supporting it by buying blue-chip stocks.

Meanwhile, investors will try to glean from the Fed today whether more rate hikes are in the immediate future or the Fed will stand pat. There are two sides to this growing concer: those want the market to free itself from it's addiction to the Fed's economic punch bowl and those who fret over prospects of still slow growth and a possible global recession at which China could be the epicenter.

According to a WSJ report, A vast majority of fund managers are expecting no more than two hikes in the next 12 months, according to a fund manager survey published Wednesday by Bank of America Merrill Lynch.