Stocks in Asia rallied on Wednesday as investors digested regional earnings reports. Markets also awaited the release of China’s Caixin manufacturing Purchasing Managers’ Index after official numbers came in below expectations on Tuesday.

Stateside, markets had closed slightly higher as investors focused on a mix of central bank meetings and tax cut details.

Japan’s Nikkei 225 jumped 0.9 percent in early trade as investors digested earnings releases. Oil stocks posted gains of more than 1 percent as oil prices edged up. Automakers also rose while tech stocks were mixed: Mitsubishi Motor was up 1.1 percent and Inpex rose 1.2 percent.

Sony stock surged 11.1 percent in early trade after announcing expectation-topping results on Tuesday.

Across the Korean Strait, the Kospi rose 0.83 percent on strength in the tech sector. Samsung Electronics jumped 2.94 percent and SK Hynix gained 2.8 percent.

Down Under, the S&P/ASX 200 rose 0.69 percent, with energy stocks leading gains on the broader index: Santos rose 1.11 percent and Beach Energy advanced 5.13 percent.

Asian corporates slated to report quarterly results in Wednesday include Honda, ANA Holdings and Standard Chartered.

Markets in the Philippines are closed for Wednesday.

Stocks in the U.S. closed slightly higher on Tuesday, with the Dow Jones industrial average and the S&P 500 both notching their seventh consecutive monthly gains as October drew to a close. The Dow tacked on 0.12 percent, or 28.50 points, to close at 23,377.24.

The Federal Reserve will deliver its interest rates decision at the end of its two-day meeting on Wednesday U.S. time. Market watchers say the meeting will yield few surprises and most expect no changes in the central bank’s policy this week.

Investors also awaited tax reform details expected later this week and President Donald Trump’s upcoming announcement regarding the next chair of the Fed.

The dollar was steady ahead of the conclusion of the Fed’s meeting, with the dollar index trading at 94.550 at 8:20 a.m. HK/SIN. Against the yen, the U.S. currency rose to trade at 113.75, compared to Monday’s close of 113.16 yen.

Meanwhile, U.S. consumer confidence in October rose to its highest levels in nearly 17 years as consumers grew more upbeat after several hurricanes had influenced sentiment in September, a Conference Board survey showed on Monday.

Also in focus will be the Bank of England’s policy meeting on Thursday. Markets are awaiting what could be the central bank’s first interest rate hike in 10 years.

In the lead up to the meeting, the British pound traded at $1.3283 at 8:20 a.m. HK/SIN — near its highest levels in two weeks.

Macau-based casino operator SJM Holdings announced a 16.5 percent decline in third-quarter profit compared to a year ago. Net profit for the quarter stood at 428 million Hong Kong dollars ($54.9 million).

Meanwhile, Alibaba Group Holding said it would be taking its annual Singles’ Day online shopping event international this year, South China Morning Post reported. The tech giant said it was looking for growth in international sales to exceed local sales, the newspaper (owned by the Alibaba Group) added. Singles’ Day takes place on November 11.

Elsewhere, Sony on Tuesday revised upwards its full-year profit for the fiscal year ending Mar. 31, 2018. The Japanese conglomerate said it expects full-year operating income to come in at 630 billion yen ($5.5 billion), substantially above a forecast of 585.8 billion yen from Thomson Reuters Starmine SmartEstimate.

Bullish sentiment persisted in the oil markets. Brent crude futures climbed 0.36 percent to trade at $61.16 a barrel and U.S. crude advanced 0.51 to trade at $54.66.

Here’s the economic calendar for Wednesday (all times in HK/SIN):

• 9:45 a.m.: China Caixin manufacturing PMI
• 12:00 p.m.: Indonesia October inflation
• 12:00 p.m.: Thailand October inflation