Overnight

Wednesday is the big central bank day for the central banks of Japan and the Federal Reserve Bank, but it's an even bigger day for investors trying to get a glimpse of what's ahead a d adjust their portfolios.The BOJ is expected to make negative interest rates the centrepiece of a new policy framework.

Whether that happens could trigger either a sell off or a buying spree of safe assets such as the long end of the bond market which has been tightening rates up before bankers reveal their cards. Shares were mixed in early trading with the Nikkei 225 down 0.5% following yesterday 's decline of 0.2%. 
Meanwhile, the S&P/ASX 200 rose 0.2%, theHang Seng Index was flat, the Shanghai Composite Index was down 0.1% and Korea’s Kospi edged 0.1% higher.

Growth and inflation have eluded central bankers who are now split over whether to continue with the experiment. After 3 1/ years of trying more normal monetary policy to recover the economy, central bankers opted for negative interest rates earlier this year. Confidence is becoming an important factor for central bankers everywhere and Japan is most likely, notwithstanding the Fed, facing more pressure at the moment.

South Korea's Kospi index traded flat at 2,026.13. In Hong Kong, theHang Seng index traded flat at 23,527.92. Chinese mainland markets moved little in early trade, with the Shanghai composite flat at 3,020.85, while the Shenzhen composite gained 0.15 percent. In Japan, banking and export stocks traded mostly lower as the market looked ahead to the BOJ's decision due mid-day, the Wall Street Journal reported.

The dollar at 95.980 was lower in early trading from 96.026, up from level mid-dat Tuesday.
Oil prices advanced on Wednesday, with U.S. crude gaining 1.73 percent to $44.81 a barrel, while Brent added 1.2 percent to $46.43. The uptick in oil followed stateside data from the American Petroleum Institute that showed a 7.5 million barrel drawdown in U.S. crude inventories for the week ended September 16, according to Reuters.

Gold traded at $1314.80.