Asian stocks rose, with the regional benchmark index trading near a four-month high, before the Federal Reserve decides later today whether to slow its $85 billion of monthly asset purchases.

Nikkei 225 14,505.36 +193.69 +1.35%

Hang Seng 23,117.45 -63.07 -0.27%

S&P/ASX 200 5,238.14 -13.10 -0.25%

Shanghai Composite 2,191.85 +6.29 +0.29%

Sharp Corp.  climbed 1.6 percent in Tokyo as consumer discretionary companies led gains on the Asia-Pacific benchmark index.

Kawasaki Heavy Industries Ltd.  surged 4.7 percent to a six-year high amid unconfirmed reports the Japanese manufacturer secured a 180 billion yen ($1.8 billion) rail-car order.

Kansai Electric Power Co. sank 1.9 percent in Tokyo after the utility halted units at two power plants.