Update from 4:20 a.m. EDT

NEW YORK ( TheStreet) -- Asian stocks ended mixed Tuesday, with Japanese shares falling 0.3%, ahead of a decision from the U.S. Federal Reserve on interest rates.

It's widely expected the Fed will keep its key fed funds rate at near zero, so what the central bank says will be closely monitored.

An announcement from the Fed is expected around 2:15 p.m. EDT.

In Tokyo, the Nikkei 225 stock average declined 30.27 to 10,721.71. The Hang Seng index in Hong Kong fell 0.3%, while Shanghai stocks gained 0.4%.

The Bank of Japan meets Wednesday to also deliver its verdict on interest rates. It too is expected to keep rates steady - at 0.1% -- but could ease policy in other ways, possibly by expanding loan programs, the Associated Press reports.

Premarket futures suggested stocks would open higher Tuesday on Wall Street.

On Monday, the Dow Jones Industrial Average rose 17.46, or 0.2%, to 10,642.15.

Stocks in Europe were higher, with the CA in Paris up by almost 1%.

-- Reported by Joseph Woelfel in New York.

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