Asian stocks rose, with a regional index excluding Japan heading for its highest close in 16 months, ahead of a Federal Reserve policy meeting and as investors await progress on U.S. budget talks.

Nikkei 225 9,525.32 -8.43 -0.09%

Hang Seng 22,323.94 +47.22 +0.21%

S&P/ASX 200 4,576 +18.06 +0.40%

Shanghai Composite 2,074.7 -9.07 -0.44%

BHP Billiton Ltd., the world’s biggest mining company, added 1.3 percent in Sydney after metal prices rose.

STX Offshore & Shipbuilding Co. jumped 7.2 percent in Seoul after a report the shipbuilder’s parent was to selling a unit that makes offshore vessels.