Asian equities rallied early Wednesday, lifted by overnight gains in U.S. stocks as tensions in Ukraine ease.
China’s annual meeting of parliament, the National People’s Congress, which kicks off Wednesday, will also be in focus. China has set its gross domestic product (GDP) growth target for 2014 at 7.5 percent, Chinese Premier Li Keqiang said.
Russian President Vladimir Putin said on Tuesday there was “no need yet” for Russia to exercise its authority, adding that he was not considering the annexation of Crimea and any force used would be a last resort. The comments quelled fears of a conflict in Ukraine, boosting global risk assets.