CURRENCIES: In the run-up to the decision, the dollar was largely steady, with the euro up 0.2 percent to $1.1974.
US central bank leaders are expected to hold the key interest rate steady this week, but they may begin trimming a huge bond-buying program that was meant to boost economic growth. On Tuesday, it settled at $1,310.60 an ounce, the lowest since August 25, according to FactSet data.
The Australian dollar fell 0.25 percent to $0.8012 AUD=D4.
CPI rose 0.4 percent last month, and the index for the latest 12 months accelerated to 1.9 percent.
The Nasdaq composite lost 5.28 points, or 0.1 percent, to 6,456.04.
Japan's Nikkei stock index ended 2 percent higher after touching its highest levels since late June, catching up to global equities gains and a weaker yen as Tokyo markets reopened after a public holiday on Monday. Since December 2015, the Fed has modestly raised the rate four times.
Following the announcement, bond prices slumped, sending the yield on the 10-year Treasury note to 2.27 percent from 2.25 percent late Tuesday.
"Investors are likely to look past the Fed's interest rate decision and even the plan to shrink the Fed's balance sheet, focusing primarily upon the Fed's forward guidance", said Jingyi Pan, a market strategist at IG in Singapore. Hong Kong's Hang Seng fell almost 0.4 percent to 28,051.41, while the Shanghai Composite dipped 0.2 percent to 3,356.84. Dollar/yen was also around 50 pips away from the day's highs, trading at 111.39 while the pound was also strong at 1.3557 after briefly spiking above the 1.36 following positive economic news out of the UK.
'Ongoing balance sheet reduction at the same time fed funds rate hikes continue at the same pace as this year might be too much tightening too soon for the expansion to bear without adverse consequences.'
On Monday, the two benchmark USA indexes extended gains, albeit modestly, to close at record highs. The contract rose 93 cents, or 1.9 percent, to settle at $50.41 a barrel on Wednesday.
LONDON, Sept 20 (Reuters) - Germany's 10-year bond yield hovered near recent five-week highs on Wednesday as investors awaited the conclusion of a U.S.
Mining contracts provider United Tractors Tbk gained 1.3%, while Bank Central Asia Tbk was up 0.5%.
ENERGY: Oil futures snapped their rally.
USA crude CLcv1 dipped 14 cents, or 0.3 percent, to settle at $50.55 a barrel, while Brent LCOcv1 rose 14 cents, or 0.3 percent, to settle at $56.43 a barrel. Brent crude, used to price worldwide oils, gained 24 cents to $55.38 per barrel in London.
South Korean shares dipped 0.1 percent, against a backdrop of caution ahead of the Fed meeting as well as continuing tensions on the Korean peninsula.