Asian Stocks Cautious Ahead of Major Central Bank Meetings; Japanese Shares Rally on Wage Gains and Auto Stocks

• Asian stocks were muted ahead of central bank meetings, especially the Fed and BOJ • Japanese shares rallied sharply despite expectations the BOJ may end its ultra-dovish policies • Japanese wage hikes and auto stock gains drove the Nikkei higher • Chinese data showed strong manufacturing but slowing consumption and rising unemployment • Caution prevailed in Hong Kong and Australia ahead of upcoming RBA and other central bank meetings