Asian stocks opened higher on Tuesday as Wall Street rallied overnight on hopes for receding tensions in Ukraine.
U.S. stocks surged on Monday, with the Nasdaq rising to a 14-year high as investors breathed easier over geopolitical tensions. Also helping sentiment was data from the National Association of Home Builders which reported its monthly confidence index rising 2 points to 55, beating expectations.
The Dow Jones Industrial Average gained 1.1 percent while the S&P 500 advanced 0.9 percent. Climbing to its highest level since March 2000, the tech-heavy Nasdaq bolstered 1 percent. The CBOE Volatility Index, a measure of investor uncertainty, fell 6.3 percent to 12.32. Meanwhile, oil prices fell to lows not seen in more than a year.