Global stocks rise ahead of US Fed rates decision

ANKARA

Global stocks were largely higher on Wednesday, ahead of the U.S. Federal Reserve decision on interest rates, with a rate hike expected.

Emerging market stocks improved. The MSCI Emerging Markets index was up 1.27 percent.

Turkey's Borsa Istanbul jumped about 0.20 percent at the open, but then lost part of its gains by noon local time [1000GMT].

Asian stocks were sharply higher. Japan's Nikkei 225 closed 2.6 percent higher. South Korea's Kospi finished with a gain of 1.8 percent. Hong Kong's Hang Seng advanced 2 percent, and the Shanghai Composite Index closed 0.2 percent higher. Australia's S&P/ASX 200 added 2.4 percent.

European stocks also gained.

Germany’s DAX index was up 0.20 percent towards mid-day. France’s CAC-40 gained 0.72 percent.

The Dow Jones pan-European Stoxx 600 index rose 0.36 percent.

U.S. stock futures indicated a higher open.

S&P 500 futures were up 0.3 percent. Dow Jones Industrial Average futures gained 0.3 percent. Nasdaq 100 futures improved 0.4 percent.

There is little consensus among analysts about how markets may react if the rate hike goes through as planned. U.S. exchanges are expected to greet the move with a rally, but Europe and Asia may not follow suit.