Nikkei: 8,741.16 (+19.92) Hang Seng: 18,824.17 (–190.63) Shanghai Comp: 2,512.96 (+65.12)ASIAN SHARES were modestly higher yesterday, but investors were cautious ahead of the conclusion of the US Federal Reserve's two-day meeting.

Most investors are expecting an easier monetary policy to be announced by the US central bank.

Nuclear power producers rose after it was reported Beijing may resume approvals for nuclear projects next year. Dongfang Elec-tric rose 7.1 per cent to Rmb23.05 while Shanghai Electric surged 8.5 per cent to Rmb6.13.

SAIC Motors was another bright spot, rising 5.3 per cent to Rmb16.47 after the car maker announced plans to develop electric cars with General Motors.

Hong Kong failed to capitalise on the stronger Chinese sentiment. Esprit, a clothier that gets more than 80 per cent of its sales from Europe, sank 9.3 per cent to HK$8.96 in Hong Kong. Belle International, a footwear retailer, fell 4.3 per cent to HK$13.02

In Tokyo, Renesas Electronics climbed 5.4 per cent to ¥512 after Oracle reported a 36 per cent jump in fiscal-year profit. Toshiba rose 1.6 per cent to ¥326.

In Sydney David Jones climbed 2.2 per cent to A$2.76.– (Copyright The Financial Times Limited 2011)