Bangkok, May 1 -- Financial markets were mostly closed in Asia on Wednesday for holidays after Wall Street capped a wobbly trading session with meager gains.

Australia's S&P ASX 200 rose 0.8% on Wednesday after ANZ reported a 2% increase in its profit, kicking off the earnings season for the country's Big Four banks. New Zealand's benchmark fell 0.6%.

There was no word of specific progress in trade talks between the U.S. and China that were underway in Beijing. With most global markets closed, investors are focusing on a meeting of the U.S. Federal Reserve on Wednesday.

On Wall Street, a late spurt of buying helped the S&P 500 claim an all-time high for the third straight trading session after hovering below its previous high for most ...