Asian stocks rise ahead of Fed's next interest rate decision

Asian stock markets are higher ahead of a Federal Reserve decision on another possible interest rate hike amid worries about global banks. Shanghai, Hong Kong and Seoul advanced. Japanese markets were closed for a holiday. Oil prices declined. Wall Street’s benchmark S&P 500 index rose after U.S., European and Japanese central banks announced measures to ease strains on the financial system. The collapse of two U.S. banks and the takeover of troubled Credit Suisse raised fears other lenders might crack under the strain of repeated rate hikes to cool economic activity and inflation that is near multi-decade highs.