Asian stock markets mixed

HONG KONG: Asian stock markets were mixed Tuesday as investors looked to take profits before year's end and awaited the Federal Reserve's latest assessment of the U.S. economy.

The region's lackluster trade followed modest gains on Wall Street, where investors sent major indexes to new highs for 2009 after Dubai's $10 billion bailout. Oil prices inched up, while the dollar strengthened against the yen.

This week, investors will be watching closely what the U.S. central bank has to say about the world's largest economy after its policy meeting Wednesday. It's widely expected to keep interest rates at historic lows.

Japan's Nikkei 225 stock average fell 5.33 points, less than 0.1 percent, to 10,100.35 and Hong Kong's Hang Seng was off 162.31, or 0.7 percent, at 21,923.44.

China's main index fell 0.7 percent while South Korea's Kospi was marginally in the green after flitting in and out of negative territory.

Other markets gained. Australia's benchmark added 0.5 percent and India's Sensex was up 0.2 percent. Singapore's index advanced 0.3 percent.

Tuesday in the U.S., the Dow rose 29.55, or 0.3 percent, to 10,501.05, its highest close since Oct. 1, 2008.

The S&P 500 index rose 7.70, or 0.7 percent, to 1,114.11, its highest finish since Oct. 2, 2008. The Nasdaq composite index rose 21.79, or 1 percent, to 2,212.10.