SYDNEY: Asian shares attempted a rebound on Wednesday on hopes that Beijing could stem the rout in its markets without damage to the economy, though caution was the watchword ahead of a policy decision from the U.S. Federal Reserve.
Australia's main index <.AXJO> rose 0.9 percent in early trade, while Japan's Nikkei <.N225> flitted in and out of positive territory. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> firmed 0.5 percent.
Sentiment was soothed a little when Chinese regulators said they were prepared to buy shares to stabilize stocks and the central bank hinted at further easing.
Yet investors were understandably wary of a market that, without warning, fell over 8 percent on Monday.
The CSI300 index <.CSI300> of the largest listed companies in Shanghai and Shenzhen had ended on Tuesday just 0.2 percent lower, while the Shanghai Composite <.SSEC> lost 1.7 percent. Both indexes had slumped as much as 5 percent at one point. [.SS]
On Wall Street, the Dow <.DJI> ended on Tuesday with gains of 1.09 percent, while the S&P 500 <.SPX> rose 1.24 percent and the Nasdaq <.IXIC> 0.98 percent