Asian stocks were trading with mixed results in anticipation of the U.S. Federal Reserve's upcoming interest rate decision. U.S. futures were slightly up, while oil prices took a dip.

In February Japan reported a trade surplus, with exports spiking over 11%. The Japanese central bank opted to keep its interest rate steady, mirroring the anticipated decision by the Fed to maintain its own rates.

Japan's benchmark Nikkei 225 saw a slight increase to 37,900.88 following the central bank's decision to keep its interest rate at 0.5%. The Fed is widely expected to follow suit by keeping rates unchanged. Hong Kong's Hang Seng rose by 0.2% to 24,777.01, while the Shanghai Composite experienced minor fluctuations, decreasing slightly to 3,427.76.

Meanwhile, Australia’s S&P/ASX 200 dropped by 0.3% to 7,836.80, whereas South Korea’s Kospi saw a 0.9% increase to 2,634.60.

All eyes are on the Fed as they release forecasts after their meeting, providing insights on interest rates, inflation, and the economic outlook. Wall Street traders are currently anticipating two or three rate cuts by the end of 2025.

Furthermore, recent market trends have seen a downturn in Big Tech stocks, including Tesla, Alphabet, Nvidia, Super Micro Computer, and Palantir Technologies, after experiencing rapid growth and facing criticisms for becoming overpriced. Tesla's stock dropped due to falling sales and concerns over CEO Elon Musk’s cost-cutting efforts. Alphabet announced the acquisition of cybersecurity firm Wiz for $32 billion to enhance its cloud computing and artificial intelligence capabilities.